After the market closed on Tuesday, Web portal and e-commerce powerhouse, Yahoo! Inc. (Nasdaq: YHOO), announced staggering revenues for 1998, of US $203.3 million — up nearly 300% from the prior year. The company also announced a 2-for-1 common stock split, that will take place on January 22, 1999.
“1998 was another landmark year for Yahoo!,” said Tim Koogle, chairman and CEO of Yahoo!. “Our performance exceeded expectations.”
During the fourth quarter, Yahoo! expanded its focus on e-commerce by launching Yahoo! Shopping, as a front-end to its more than 3,400 Yahoo!Stores. The new service offers added exposure for small businesses that have built cost-effective entry-level Yahoo! stores. For approximately $100 per month, a merchant can list up to 50 products for sale, and for $300, the merchant can list up to 100 products.
Other Announcements
The company also announced that its registration base for special services reached more than 35 million unique registrations during the fourth quarter.
During the month of December 1998, traffic on the Yahoo! global network of properties grew to an average of 167 million page views per day, compared to an average of 144 million page views per day in September 1998.
Yahoo! Japan’s traffic, which is included in the above page view totals, increased to more than 13 million page views per day during the month of December, compared to approximately 11 million in September. A page view is defined as one electronic page of information displayed in response to a user request.
Corporate Background
As the first online navigational guide to the Web, www.yahoo.com is a leading guide in terms of traffic, advertising, household and business user reach, and is one of the most recognized brands associated with the Internet. Yahoo! has offices in Europe, the Asia Pacific and Canada, and is headquartered in Santa Clara, California.
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