SpringOwl Activist Presentation Deck
It's Not Acceptable To Pay $230M For Zombie
Companies Run By Former APM Members
YAHOO!
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Polyvore was an 8 year old company
which has gone through multiple pivots
It raised $22M over 3 rounds and was
widely seen as a failure or part of the
Silicon Valley "walking dead"
Its CEO, Jess Lee, had known Mayer
since she joined Google's APM program
more than 10 years ago and used Mayer
as a mentor
Anonymous sources have told us that no
Yahoo employees beyond Mayer wanted
to do this deal through Yahoo's "deal
review" process
Mayer pushed for this deal at $230M even
though there's no belief that Polyvore
deserves that valuation; Yahoo should
show its shareholders the Polyvore
financials and justification for this price
paid
Source:
1. http://www.businessinsider.com/polyvore-ceo-jess-lee-influenced-by-marissa-mayer-2015
2. http://www.bloomberg.com/news/articles/2015-08-03/vahoo-said-to-pay-230-million-for-shopping-site-polyvore
SpringOwl!
Asset Management LLC
Google
polyvore™
Magass
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