The wind is too paradoxical

In 2005, Yahoo (Nasdaq:yhoo) to "1 billion dollar + Yahoo China" ceremony package Hao married Alibaba (Micro Bo) group, now it is the Alibaba Group to say they want to buy Yahoo.

6 years, Yahoo from peak to bottom, Alibaba Group is all the way up, from Alibaba (1688.HK), Taobao, Alipay (Weibo), and now Aliyun, its expansion of the border has not yet appeared.

Things originated in the United States time September 30, Alibaba Group chairman of the Board, MA Yun (micro-blog) in a speech at Stanford University, said the acquisition of Yahoo, "Alibaba Group is very very interested," and said it is because for each other, "both sides are very important."

Former Yahoo China general manager, now Qihoo 360 company chairman Zhou that "Yahoo is very valuable to Alibaba", it will become Ma Yun Big E-commerce, and the best way to solve the Alibaba Group stake.

"Yahoo is most valuable to Alibaba"

Yahoo, the United States has been declining barb, this year, Yahoo's share price has fallen 19%, the market value has fallen to 17 billion U.S. dollars. After announcing the dismissal of its CEO Carl Batz last month, there were several versions of speculation about its sale in the capital markets.

Alibaba Group buys Yahoo, rumor continues. Mr Ma's choice of speech, a speech at Stanford University in the US, was interpreted as an unofficial signal, but full of strong hints. Alibaba Group officials said it declined to comment.

Zhou said: The premise of the acquisition of Yahoo, Yahoo must have the value of integration.

It is rumored that the company that is about to buy Yahoo is divided into three categories: one is Microsoft (Weibo), News Corp, even At&t, Verizon and other operators, and the other is Silver Lake Partnership Fund, Anderson Hollowitz Fund and Providence Asset company and other investment institutions, the third is from China's Alibaba Group.

Zhou that Yahoo has little value for companies like Microsoft, News Corp, at&t and Verizon, because these companies or businesses are in conflict with Yahoo, such as Microsoft, News Corp, or Yahoo culture, which is hard to integrate, such as At&t and Verizon.

The second type of company is most likely, but the value is limited to investment value.

Yahoo is most valuable to Alibaba Group. Zhou that this is reflected in at least three aspects: first, the flow value, Yahoo ranked in the global traffic, after Google, Facebook, these flows in addition to advertising value, but also for Alibaba's e-commerce to provide support; second, to support Alibaba Group to become a global company, Jack Ma has been trying to make Alibaba Group into a global enterprise, it's hard to get into the U.S. without a local team, and Yahoo's team can make up for it. Third, from the company's security point of view, Yahoo is Alibaba Group shareholding 40% of shareholders, if Yahoo is an unfriendly company to buy, it will make Alibaba Group more uncomfortable.

Zhou thinks, Ma Yun and Yahoo founder Jerry Yang intersect for many years, will "speak better".

The reporter learned that Ma Yun has communicated with Yahoo founder Jerry Yang, and will make a formal visit in the near future, and evaluate Yahoo's strategic value.

"Yahoo has been abandoned."

Zhou that Yahoo's assets have shrunk over the past few years.

Yahoo has been the world's largest mailbox service provider, the largest provider of instant messaging services, but the importance of mailbox services is declining, emerging Facebook, Twitter and other companies to provide products and services are replacing mailboxes. Yahoo was once the world's second-largest provider of search services, but its market share is falling. Yahoo's share of the internet search market in the United States was 16% in August, less than two years ago, 19%. By contrast, Google's market share was stable at 65%, with Microsoft's share rising from 9% to 15% in two years ago, overtaking Yahoo.

Of course, Yahoo is still the world's first door, but Zhou that the portal model is outdated, is a "middle-aged business", for investors not much value.

Zhou that Yahoo's most valuable asset is Japan's Yahoo and Alibaba Group. Yahoo China's former general manager Xie said: "To some extent, the United States Yahoo is already a capital symbol with a large number of Asian assets, rather than an unlimited imagination of the internet company, its sale is not suspense, the capital market is concerned about, it should be sold to who, in what way?"

Meanwhile, Yahoo is being dumped by Wall Street, or Wall Street is plotting to "kill" Yahoo. Chen Peixian, a senior Silicon Valley veteran and CEO of Skanpay, said Wall Street likes to "conspire" to concentrate money on a company or to fry an industry that is now speculating on Google, Facebook, Linkedin and Yahoo.

In the eyes of Wall Street, Yahoo has two features that are not bullish: one is too conservative, risky companies are more likely to be sought after by ordinary investment, and there is no Jewish ancestry. Of the Wall Street's hot stars, two of Google's founders are Jewish; Of the five core founders of Facebook, four are Jewish; The founder of LinkedIn is Jewish.

Recently, Yahoo has been sold news constantly. Alibaba Group is currently in talks with Temasek, the Singapore state-owned investment company (Temasek Holdings, hereinafter referred to as "Temasek"), to consider buying back a 40% per cent stake in Alibaba Holdings from Temasek financing.

At the same time, Yahoo co-founder, former CEO Jerry Yang intends to reach a deal with private-equity companies, so that Yahoo withdrew from the Open Securities Exchange market. Yahoo is worth about 17 billion dollars. Mr Yang hopes that his understanding of Yahoo will convince the acquirer to stay on Yahoo and help restore Yahoo's past glories.

Yahoo is in urgent need of sale, which is an opportunity for Alibaba.