Full Text of Yahoo CEO Jerry Yang's First Internal Email to All Staff

by seosh on 2008-02-08 09:50:32

February 4, Beijing Time - According to foreign media reports, after Microsoft made a $44.6 billion acquisition offer to Yahoo, Jerry Yang, the then CEO of Yahoo, sent an internal email marked "Top Secret" to all employees at 3:06 PM on the same day.

In the email, Yang indicated that the company's management and board were evaluating the matter, and that Yahoo's future strategic development had multiple options, with Microsoft's acquisition request being just one of them.

Another insider said that Yahoo would formulate "countermeasures" because Yang was unwilling to be "at someone else's mercy."

Below is the full text of the top-secret email sent by Jerry Yang to all Yahoo employees last Friday:

From: Jerry Yang

Sent: Friday, February 1, 2008, 3:06 PM

Subject: More Information About Today's News

To All Yahoo Employees,

Since our communication with you this morning, there has been much discussion in the media and industry about Microsoft's unsolicited proposal to acquire Yahoo! We know that many of you have learned about this through various channels. This is why we are writing to you before the end of today, to highlight several key points regarding the matters related to this acquisition proposal, the evaluation process currently undertaken by the Board, and what you can expect to hear from us over the next few days.

First, we want to emphasize that no decision has been made yet by the company regarding this matter. Despite much speculation about whether we will accept the offer, absolutely no actual acquisition proceedings will take place for now. Microsoft’s proposal is just that – a proposal – and it was only received within the past 24 hours. Please trust that the Board will conduct a thorough and careful evaluation of this matter, as this is what is best for our great company. The Microsoft proposal is merely one of many potential scenarios we are evaluating for the long-term development of Yahoo!, aiming to bring maximum value to our shareholders and employees. Therefore, we will respond to Microsoft after carefully assessing all possible future development plans for Yahoo!.

Secondly, under the current circumstances, we must not let any disharmonious "noise" distract us from fulfilling our core mission. What is most critical now is that we continue to focus on running our business well, executing our market strategies effectively, and providing the best service to all our users, advertisers, and publishers.

Finally, we realize that this acquisition news may have made for a difficult day for some of you, especially those working on the front lines. We know you have many questions, and we promise to keep you updated on the progress of the Board's evaluation. During this crucial time, both of us express our gratitude for the dedication and commitment of all our employees. We will continue to update everyone as we receive useful information.

Jerry Yang and Roy Bostock (newly appointed non-executive Chairman of the Yahoo Board)