Yahoo! and Facebook Launch Strategic Alliance and Resolve Patent Dispute
SUNNYVALE, Calif. & MENLO PARK, Calif.--(BUSINESS WIRE)--
Yahoo! (NASDAQ:YHOO) and Facebook (NASDAQ:FB) today announced that they
have entered into definitive agreements that launch a new advertising
partnership, extend and expand distribution arrangements, and settle all
pending patent claims between the companies.
Under the agreements, which include a patent portfolio cross-license,
the parties will work together to bring consumers and advertisers
premium media experiences promoted and distributed across both Yahoo!
and Facebook. Yahoo! and Facebook will also work together to bring
Yahoo!'s large media event coverage to Facebook users by collaborating
on social integrations on the Yahoo! site.
"We are excited to develop a deeper partnership with Facebook, and I'm
grateful to Sheryl and her team for working hard together with our team
to develop this dynamic agreement. We are looking forward to building on
the success we have already seen to provide innovative new products and
experiences for both consumers and sponsors," said Ross Levinsohn,
interim CEO of Yahoo!. "Combining the premium content and reach of
Yahoo! as the world's leading digital media company with Facebook
provides branded advertisers with unmatched opportunity."
"I'm pleased that we were able to resolve this in a positive manner and
look forward to partnering closely with Ross and the leadership at
Yahoo!," said Sheryl Sandberg, Chief Operating Officer at Facebook.
"Yahoo!'s new leaders are driven by a renewed focus on innovation and
providing great products to users. Together, we can provide users with
engaging social experiences while creating value for marketers."
Since the launch of the original multi-year partnership between Yahoo!
and Facebook that allows users to discover and connect news and
information on Yahoo! sites and share them with their Facebook friends,
Yahoo! has integrated the feature called "Social Bar" on more than 100
of its properties globally, and more than 90 million users have
implemented it. As a result, Yahoo! has the largest active user base
among all news sites that have integrated with Facebook's Open Graph
platform, making Social Bar the world's leading social news application.
Going forward, Yahoo! and Facebook have agreed to work more closely and
collaborate together on multiple tent-pole and anchor events annually
over the next several years to provide unparalleled experiences for
consumers and world-class sponsorship opportunities for advertisers.
Yahoo! (NASDAQ:YHOO) is a technology powered media company, creating
deeply personal digital experiences that keep more than half a billion
people connected to what matters most to them, across devices and around
the globe. Yahoo!'s unique combination of Science + Art + Scale connects
advertisers to the consumers who build their businesses. For more
information, visit the pressroom (pressroom.yahoo.com)
or the company's blog, Yodel Anecdotal (http://ycorpblog.com/).
Yahoo! is the trademark and/or registered trademark of Yahoo! Inc.
Founded in February 2004, Facebook's mission is to give people the power
to share and make the world more open and connected. Anyone can sign up
for Facebook and interact with the people they know in a trusted
environment. Facebook is headquartered in Menlo Park, Calif.
Yahoo! Forward Looking Statements
This press release contains forward-looking statements about Yahoo! that
involve risks and uncertainties concerning Yahoo!'s strategic and
operational plans, as well as its expectations regarding the announced
agreements. Actual results and benefits of the agreements may differ
materially from management expectations and those described in this
press release. The potential risks and uncertainties include, among
others, that the anticipated benefits to Yahoo!, its advertisers and
users might not be realized. More information about potential factors
that could affect Yahoo!'s business and financial results is included
under the captions, "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations," in Yahoo!'s
Annual Report on Form 10-K for the year ended December 31, 2011, as
amended, and Quarterly Report on Form 10-Q for the quarter ended March
31, 2012, which are on file with the SEC and available at the SEC's
website at www.sec.gov.
Facebook Forward-Looking Statements
Statements contained in this press release about Facebook other than
statements of historical fact, including statements regarding Facebook's
business strategy and plans, are forward-looking statements. Facebook's
actual results may differ materially from those anticipated in these
forward-looking statements. Facebook has based these forward-looking
statements largely on its current expectations and projections about
future events and trends that Facebook believes may affect its financial
condition, results of operations, business strategy, short-term and
long-term business operations and objectives, and financial needs. These
forward-looking statements are subject to a number of risks,
uncertainties and assumptions, and more information about potential
factors that could affect Facebook's business and financial results is
contained in the "Risk Factors" and other sections of Facebook's final
prospectus included in its Registration Statement on Form S-1, as
amended, and Facebook's other filings with the SEC. Facebook does not
intend, and undertakes no duty, to update any forward-looking statements
to reflect future events or circumstances.
Dana Lengkeek, 415-994-4008
Verbinnen & Co
Charles Sipkins, 310-201-2040
News Provided by Acquire Media
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