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Yahoo!'s performance in 2002 is a strong validation of the course we've set for this Company. Before the year began, we laid down a strategy and plan for Yahoo! that we believed would position the Company for sustainable, profitable growth. Not only did we achieve our goals for 2002, we surpassed them. This is a story about steady execution: We focused on executing those things we do well, and we used our core strengths to our advantage. The determination and enthusiasm within Yahoo! - so much a part of this culture - made our achievements possible even in a challenging business environment and in the face of intense competition.
In 2002, we enhanced existing businesses and ventured into select new areas in an effort to improve the quality of our revenue to be more predictable and sustainable over the long term; grew our global user base while also building stronger, deeper connections with those users; introduced some great new products that have been very successful in the marketplace; and led the industry in developing a broad range of marketing and business solutions for both small and large companies. As a result, we continue to demonstrate our ability to achieve our mission to be the most relevant and essential Internet service for users and businesses worldwide.
I am pleased with our financial results and I encourage you to read more about them in the materials which accompany, and are a part of, this letter. I believe they illustrate that we have changed our business model in a way that enables us to continue to focus on our longer-term objective of delivering superior, consistent and sustainable growth. Full year 2002 revenue was $953 million, a 33 percent increase over 2001. Importantly, year-over-year revenue growth accelerated with each quarter in 2002, due to the change in our client mix and the growing contribution of our newer, more sustainable revenue sources. Yahoo!'s balance sheet also remained strong, ending the year with $1.53 billion in cash and marketable debt securities, up more than $60 million from the beginning of the year.
What's significant about our results is that we achieved them while still making investments in the parts of the business that we believe will help drive long-term growth. And by executing against our priorities, we achieved a number of significant milestones that indicate the growing strength and diversity of our business. I will detail these below.
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