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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
DATE OF REPORT January 5, 1998
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YAHOO! INC.
(Exact name of registrant as specified in its charter)
0-26822
(Commission File Number)
California 77-0398689
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
3400 Central Expressway, Suite 201
Santa Clara, California 95051
(Address of principal executive offices, with zip code)
(408) 731-3300
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On January 5, 1998, Yahoo! Inc., a California corporation ("Yahoo!"),
announced that it has entered into an agreement with GeoCities, a California
corporation ("GeoCities"), to leverage the personalized Web features of both
companies to bring value-added community and communication services to Yahoo!
users and GeoCities members. The companies also announced that Yahoo! has
purchased approximately $5 million in equity of GeoCities pursuant to a stock
purchase agreement by and among Yahoo!, SOFTBANK Holdings, Inc. ("Softbank"),
GeoCities, and certain shareholders of GeoCities. The investment by Yahoo!
was paid for with newly-issued Yahoo! common stock and represents a minority
interest in GeoCities. Softbank, a significant shareholder of Yahoo!, also
announced that it is acquiring approximately $51 million in equity of
GeoCities through a combination of an exchange of Yahoo! common stock and
cash proceeds from sales of some Yahoo! common stock in the open market. This
investment by Softbank follows a prior minority investment in GeoCities by a
Softbank venture affiliate. In connection with the stock purchase agreement,
Yahoo! has agreed to register the resale of all shares of Yahoo! common stock
acquired by GeoCities and the GeoCities shareholders in the transaction.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
None.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
YAHOO! INC.
Date: January 5, 1998 By: /s/ Gary Valenzuela
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Gary Valenzuela
Vice President, Finance and Administration,
and Chief Financial Officer
(Principal Financial Officer)