In 2015, the valuation of the company was $4 billion below the valuation of the Alibaba stock it held. A popular interpretation of this is that the main Yahoo!

In 2015, the valuation of the company was $4 billion below the valuation of the Alibaba stock it held. A popular interpretation of this is that the main Yahoo! operations were considered to have negative value by investors—though the reality was a bit more complex than that.