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Yang was born with the name Yang Chih-Yuan in Taipei, Taiwan, on November 6, 1968;[2] his mother was a professor of English and drama and his father died when he was two, by which time Yang had a brother.[4][5] In 1978, his mother moved the family to San Jose, California, where his grandmother and extended family took care of the boys while his mother taught English to other immigrants.[4] After moving to the US Yang took the American name Jerry, his mother Lily, and his brother Ken.[6] He says that he only knew one English word, “shoe”, when he came to America, but became fluent in English in about three years.[7]

Yang graduated from Piedmont Hills High School and went on to earn both a Bachelor of Science and a Master of Science in electrical engineering from Stanford University in four years.[7] He met David Filo at Stanford in 1989, and the two of them went to Japan in 1992 for a six-month exchange program, during which he met his future wife, who was there as part of the exchange program.[7]

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Yang founded Yahoo! in 1994, served as CEO from 2007 to 2009. He left Yahoo! in 2012. He founded a venture capital firm called AME Cloud Ventures and, as of 2015, serves on several corporate boards. According to Rob Solomon, a venture capitalist at Accel Partners, Yang was “a great founder, evangelist, strategist and mentor,” having “created the blueprint for what is possible on the Internet.”[8]

While studying at Stanford in 1994, Yang and David Filo co-created an Internet website called “Jerry and David’s Guide to the World Wide Web,” which consisted of a directory of other websites. As it grew in popularity they renamed it “Yahoo! Inc.” Yahoo! received around 100,000 unique visitors by the fall of 1994. In April 1995, Yahoo! received a $2 million investment from Sequoia Capital, Tim Koogle was hired as CEO, and Yang and Filo were each appointed “Chief Yahoo.” Yahoo! received a second round of funding in the Fall of 1995 from Reuters and Softbank. It went public in April 1996 with 49 employees.[4][9][10] In 1999, Yang was named to the MIT Technology Review TR100 as one of the top 100 innovators in the world under the age of 35.[3][11] Terry Semel, who replaced Tim Koogle as CEO after the dot-com bubble crash, served until 2007 when the rise of Google led the board to fire him and appoint Yang as interim CEO.[4]

Yang met Alibaba founder Jack Ma in 1997 during Yang’s first trip to China. Ma, a government-employed tour guide and former English teacher, gave Yang a tour of the Great Wall of China. The two hit it off and discussed the growth of the Web. Ma created Alibaba several months later. A 1997 photo of Yang and Ma at the Great Wall still hangs on the wall in Alibaba’s Hangzhou office.[4]

In 2005, under Yang’s direction but before he took over as CEO in 2007, Yahoo! purchased a 40% stake in Alibaba for $1 billion plus the assets of Yahoo! China, valued at $700 million.[4] In 2012, Yahoo! sold a portion of its stake in Alibaba for $7.6 billion.[12] The company made an additional $9.4 billion in Alibaba’s 2014 IPO.[13] Eric Jackson, the founder of hedge fund Ironfire Capital, called Yahoo!’s investment in Alibaba “the best investment an American company has ever made in China,” and stated, “Jerry deserves enormous credit for that.”[12]

In fall 2005, a month after the Alibaba investment, news broke that Yahoo! had cooperated with Chinese authorities in the arrest of Chinese journalist Shi Tao in November 2004.[14] Shi had used a Yahoo email address to anonymously notify a pro-democracy website in the US that the Chinese government had ordered the Chinese media not to cover the fifteenth anniversary of the Tiananmen Square Protests of 1989 on June 4. Yahoo! provided the Chinese security agencies with the IP addresses of the senders, the recipients and the time of the message. Shi was subsequently convicted for “divulging state secrets abroad.”[14]

Yang justified the action, stating: “To be doing business in China or anywhere else in the world, we have to comply with local law[s].” Yang and Yahoo! were heavily criticized, and Reporters Without Borders called Yahoo! “a Chinese police informant.”[15][16]

In April 2007, Wang Xiaoning and other journalists brought a civil suit against Yahoo! for allegedly aiding and abetting the Chinese government which, it was claimed, resulted in torture that included beatings and imprisonment.[17]

In early November 2007, Yang faced questions from a Congressional committee with respect to Yahoo!’s role in the arrests of Tao and other journalists in China. During the hearings he apologized to Tao’s mother, who was also at the hearing.[18][19][20]

A week later, Yahoo! agreed to settle with affected Chinese dissidents, paying them undisclosed compensation. Yang stated, “After meeting with the families, it was clear to me what we had to do to make this right for them, for Yahoo, and for the future.”[21] That week, Yang established the Yahoo! Human Rights Fund, a fund to provide “humanitarian and legal support” to online dissidents.[22]

In February 2008, Secretary of State Condoleezza Rice said that she raised issues about jailed Chinese journalists with her Chinese counterpart Yang Jiechi; she cited a letter from Jerry Yang requesting her assistance in freeing the jailed dissidents.[23] Late in 2008, the Laogai Museum opened; the museum was run by noted Chinese dissident Harry Wu and showcased China’s laogai penal system. It was funded by the Yahoo! Human Rights Fund.[24]

On September 2, 2020, a lawsuit was filed on behalf of Chinese activist Ning Xianhua against past Yahoo! executives, including Yang and Semel. The lawsuit was filed in the U.S. District Court in San Jose, California. It alleges that Yahoo! provided Xianhua’s private emails to the Chinese government in exchange for commercial access to more Chinese internet users.[25]

In February 2008, Microsoft made an unsolicited offer to buy Yahoo! for $44.6 billion; at the time Yahoo! was still struggling to catch up to Google, while Microsoft was still seeking an internet strategy.[26] The offer was a 62% premium to Yahoo!’s market value at the time.[4] The negotiations were difficult, as Yang had no desire to sell Yahoo! and would not make a counter offer.[27] Once the negotiations ended in failure in May 2008, Yahoo!’s stock price plunged.[4][27] Yang and board chairman Roy Bostock were strongly criticized by investors for their handling of negotiations, which later led to several shareholder lawsuits and a proxy fight led by Carl Icahn, which was settled in July 2008.[28]

Yang’s response to the Microsoft takeover was to make a commercial search advertising arrangement with Google but they ended negotiation after U.S. authorities voiced concerns regarding the effect on competition in the market.[4]

On November 17, 2008, The Wall Street Journal reported Yang would step down as CEO as soon as the company found a replacement.[29] He served as CEO until 2009, when Yahoo! named Carol Bartz as CEO.[30] He regained his former position as “Chief Yahoo” and remained on Yahoo’s board of directors.[31]

In January 2012, Yahoo! announced that Yang was leaving the company and would be resigning from the board and all other positions at the company. The company also announced his resignation from the boards of Yahoo! Japan and Alibaba Corp.[32]

After leaving Yahoo! he became a mentor to technology startups and an investor through his firm, AME Cloud Ventures.[4][33][34] AME (pronounced “ah-meh”) invests primarily in companies that work with data and has provided funding to more than 50 startups, including Tango, Evernote, Wattpad,[35] Wish,[36] Zoom and Vectra Networks Inc., and Chinese travel site Shijiebang. “Ame” means “rain” in Japanese, a nod to Yang’s interest in cloud computing.[4]

Yang is married to Akiko Yamazaki, a Japanese woman who was raised in Costa Rica, whom he met in 1992 during a 6-month Stanford exchange program when they were both students there.[7] Yamazaki graduated from Stanford University with a degree in industrial engineering and is a director with the Wildlife Conservation Network.[45] Yang currently resides in Los Altos Hills, California.[46]

In February 2007, Yang and his wife gave $75 million to Stanford University, their alma mater,[45] $50 million of which went to building the “Jerry Yang and Akiko Yamazaki Environment and Energy Building”, a multi-disciplinary research, teaching and lab building designed with sustainable architecture principles.[47]

In late 2012 and early 2013, the Asian Art Museum of San Francisco exhibited selections from the Chinese calligraphy collection belonging to Yang and his wife. He began the collection in the late 1990s; it contains about 250 pieces.[48] These selections also appeared at the Metropolitan Museum of Art in the 2014 exhibition “Out of Character: Decoding Chinese Calligraphy.”[49]

In September 2017, Yang and Yamazaki pledged $25 million to the Asian Art Museum, the largest donation in the museum’s history.[50]

A new pavilion at the museum, funded by Yang and Yamazaki’s donation and named in their honor, opened in 2020.[51][52]

Yang and Yamakazi loaned more than 50 Chinese ink paintings to Stanford’s Cantor Arts Center in summer 2018 for its “Ink Worlds” exhibition.[53][54]

Yang was featured in Asian Americans, a PBS documentary series on Asian American history, in 2020.[55][56]

In 2021, he was among the co-founders of The Asian American Foundation,[57] a $250 million initiative to address racism against Asian Americans[58] and provide services to Asian Americans and Pacific Islanders.[57] Yang sits on the board of the foundation, described by its organizers as the largest-ever philanthropic effort to support the AAPI community.[59]

“Press Release: Yahoo! Inc Reaches Settlement On Lawsuit Works To Establish Human Rights Fund”

David Robert Filo (born April 20, 1966) is an American billionaire businessman and the co-founder of Yahoo! with Jerry Yang. His Filo Server Program, written in the C programming language, was the server-side software used to dynamically serve variable web pages, called Filo Server Pages, on visits to early versions of the Yahoo! website.

Filo earned a B.S. degree in computer engineering at Tulane University (through the Dean’s Honor Scholarship) and an M.S. degree in 1990 at Stanford University.[2]

In February 1994, he co-created with Jerry Yang an Internet website called “Jerry and David’s Guide to the World Wide Web”, consisting of a directory of other websites. It was renamed “Yahoo!” (an exclamation). Yahoo! became very popular, and Filo and Yang realized the business potential and co-founded Yahoo! Inc.[3][4]

Yahoo! started off as a web portal with a web directory providing an extensive range of products and services for various online activities. Yahoo was one of the pioneers of the early Internet era in the 1990s. It is still one of the leading internet brands and, due to partnerships with telecommunications firms, is one of the most visited websites on the internet.[5][6]

Filo is married to photographer and teacher Angela Buenning.[7] They have one child, and live in Palo Alto, California.[2]

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In 2005 he gave $30 million to his alma mater, Tulane University, for use in its School of Engineering.[2]

As of September 2019, Forbes estimated Filo to be worth $4.3 billion, ranking him the 379th-richest person in the world.[2]

Centennial Year Commencement Exercises

The second incarnation of Yahoo Inc. is an American multinational technology company that focuses on media and online business. The current incarnation of the company was formed in 2017. Verizon Communications acquired AOL in 2015, [6][7] and later purchased several assets from the previous incarnation, Yahoo! Inc., in 2017. The two entities would merge into a new subsidiary named Oath Inc. later that year.[4][8][9] In December 2018, Verizon announced it would write down the combined value of its purchases of AOL and Yahoo! by $4.6 billion, roughly half.[10] The company would be renamed Verizon Media the following month in January 2019.[11]

On May 3, 2021, Verizon announced that 90 percent of the division would be acquired by Apollo Global Management for roughly $5 billion, and would simply be known as Yahoo after the agreement comes to a close. Verizon would retain a 10% stake in the new group.[12][13] The acquisition was completed on September 1, 2021.[14]

The company maintains dual headquarters at the former AOL and Yahoo! headquarters buildings in Manhattan, New York, and Sunnyvale, California, respectively.[15] As of December 2019[update], the company employed about 10,350 people.[2][16]

A year after the completion of the AOL acquisition, Verizon announced a $4.8 billion deal for Yahoo!’s core Internet business, to invest in the Internet company’s search, news, finance, sports, video, emails and Tumblr products.[17] Yahoo! announced in September and December 2016 two major Internet security breaches affecting more than a billion customers.[18] As a result, Verizon lowered its offer for Yahoo! by $350 million to $4.48 billion.[19]

The AOL deal and subsequent Yahoo! purchase were led by Verizon’s management team, including Lowell McAdam (CEO), Marni Walden (EVP Product) and Tim Armstrong.[10] Walden had been tasked with merging the two entities and delivering on the promise of moving Verizon from an analog to digital platforms business.[20] Walden exited Verizon in 2017 and as later events revealed, the integration did not deliver the expected value.

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Two months before closing the deal for Yahoo!, Verizon announced it would place Yahoo! and AOL under an umbrella named Oath.[21] The deal closed on June 13, 2017, and Oath was launched.[22] Upon completion of the deal, Yahoo! CEO Marissa Mayer resigned.[22] Yahoo! operations not acquired in the deal were renamed Altaba, a holding company whose primary assets are its 15.5 percent stake in Alibaba Group and 35.5 percent stake in Yahoo! Japan.[22] After the merger, Oath cut fifteen percent of the Yahoo-AOL workforce.[4] In 2018, Altaba sold Yahoo! Japan to SoftBank Group.

In April 2018, Helios and Matheson acquired the Moviefone movie listings website from Oath. As part of the transaction, Verizon took a stake in Helios and Matheson Analytics stock.[23][24]

In May 2018, Verizon and Samsung agreed to terms that would preload four Oath applications (“apps”) onto Samsung Galaxy S9 smartphones.[25] The agreement includes Oath’s Newsroom, Yahoo! Sports, Yahoo! Finance, and go90 mobile video apps (closed in July 2018), with integration of native Oath advertisements into both the Oath apps and Samsung’s own Galaxy and Game Launcher apps.[26][27]

On September 12, 2018, it was announced that K. Guru Gowrappan would succeed Tim Armstrong as CEO, effective October 1.[28]

On December 3, 2018, the company declared a new set of rules for the Tumblr community that took effect December 17, 2018, banning “adult content”. This move raised objections that it harms their LGBTQ community, sexual abuse survivors, sex workers, adult content blogs, and other bloggers.[29][30] The move came after the Tumblr app was removed from the Apple App Store due to issues with child pornography,[31] leading some to speculate that the ban may have been made to regain access to the App Store.[32]

In December 2018, Verizon announced that it was cutting 10% of Oath’s workforce[33] and would write down the value of the business by $4.6B. Verizon management blamed competitive pressures and that the business never achieved the anticipated benefits.[34] The move wiped out all of the goodwill on the balance sheets that accompanied the acquisitions.[10]

On January 8, 2019, Oath was renamed Verizon Media.[11]

In April 2018, Verizon sold Flickr to SmugMug, for an undisclosed amount.[35]

In August 2019, Verizon sold Tumblr to Automattic, the owner of WordPress.com, for an undisclosed amount which was reportedly less than $3 million.[36]

In November 2020, Verizon sold HuffPost to BuzzFeed.[37] in an all-stock deal, remaining minority shareholder in Buzzfeed.[38]

On May 3, 2021, Verizon announced that the Verizon Media would be acquired by Apollo Global Management for roughly $5 billion, and would simply be known as Yahoo following the closure of the deal, with Verizon retaining a minor 10% stake in the new group.[13] The acquisition was completed on September 1, 2021, with the company now known as Yahoo.[14]

On September 10, 2021, Jim Lanzone, who had most recently served as CEO of Tinder, was named CEO of Yahoo, succeeding Gowrappan.[39]

Some of the digital media brands under Yahoo include:[40]

It had partial ownership of Moviefone’s former parent company, Helios and Matheson Analytics Inc., until its liquidation in 2020.

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