SpringOwl Activist Presentation Deck
What The Next Yahoo CEO Shouldn't Do
▪ A Hail-Mary Expensive Acquisition That Won't Be Successful
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Mayer's big one was Tumblr; she bought it at the top and didn't properly invest in the asset to make the most of it
It would be a huge mistake if any CEO made a "bet the company" decision on buying an expensive property like
Pinterest and thinking that this one move will "save" Yahoo → This would be an expensive recipe for failure
Big brands and flashy acquisitions won't save Yahoo; Yahoo must save Yahoo
Instead, Yahoo simply needs to focus on:
o Small, incremental changes that compound over time
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Grow the audience/stack organically
o Supplement this with very small acquisitions which make sense
Source: Spring Owl Asset Management LLC
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Asset Management LLC
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