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Even though we've only just begun to capitalize on the enormous opportunities before us, I'm very pleased with the progress we've made to date. A year ago, we had yet to take advantage of some of the largest opportunities on the Internet, such as sponsored search, premium services and direct payments from non-marketing customers. In the past year, they accounted for close to half of our total revenue. And the best part is, in my view, many of these new businesses have their greatest opportunities still ahead of them, which I believe positions us well for future growth.
My sincere thanks to our shareholders, consumers, customers, partners and employees for the enormous support you continue to provide. Stay tuned; I believe the best is yet to come!
Terry Semel
Chairman of the Board and Chief Executive Officer
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