SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549



                                  SCHEDULE 13G
                    Under the Securities Exchange Act of 1934

                             (Amendment No. 1)*



                                   Yahoo! Inc.
- ------------------------------------------------------------------------------

                                (Name of Issuer)



                                  Common Stock
- ------------------------------------------------------------------------------

                         (Title of Class of Securities)



                                   984332-10-6
- ------------------------------------------------------------------------------

                                 (CUSIP Number)




         Check the following box if a fee is being paid with this statement 
[ ]. (A fee is not required only if the filing person: (1) has a previous 
statement on file reporting beneficial ownership of more than five percent 
of the class of securities described in Item 1; and (2) has filed no 
amendment subsequent thereto reporting beneficial ownership of five percent 
or less of such class.) (See Rule 13d-7.)

*The remainder of this cover page shall be filled out for a reporting 
person's initial filing on this form with respect to the subject class of 
securities, and for any subsequent amendment containing information which 
would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be 
deemed to be "filed" for the purpose of Section 18 of the Securities 
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of 
that section of the Act but shall be subject to all other provisions of the 
Act (however, see the Notes).


                                Page 1 of 3 pages



<PAGE>
- ---------------------
CUSIP NO. 984332-10-6
- ---------------------
- ------------------------------------------------------------------------------
 1.      NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                  SOFTBANK Holdings Inc.

- ------------------------------------------------------------------------------
 2.      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

                                                                   (a)  [  ]

                                                                   (b)  [  ]
- ------------------------------------------------------------------------------
 3.      SEC USE ONLY


- ------------------------------------------------------------------------------
 4.      CITIZENSHIP OR PLACE OF ORGANIZATION

         Delaware Corporation
- ------------------------------------------------------------------------------
                  5.       SOLE VOTING POWER
  NUMBER OF                9,515,228 Shares Common*
    SHARES        ------------------------------------------------------------
BENEFICIALLY      6.       SHARED VOTING POWER
  OWNED BY
    EACH          ------------------------------------------------------------
 REPORTING        7.       SOLE DISPOSITIVE POWER
   PERSON                  9,515,228 Shares Common*
    WITH          ------------------------------------------------------------
                  8.       SHARED DISPOSITIVE POWER

- ------------------------------------------------------------------------------
 9.      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
         PERSON
                  9,515,228 Shares Common*
- ------------------------------------------------------------------------------
10.      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES
                                                                       [  ]
- ------------------------------------------------------------------------------
11.      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  35.79%
- ------------------------------------------------------------------------------
12.      TYPE OF REPORTING PERSON

                  Corporation
- ------------------------------------------------------------------------------

____________________

         * On December 13, 1996 SOFTBANK Holdings Inc. ("SOFTBANK") granted an
option (the "Option") to Eric Hippeau, a director of Yahoo! Inc. ("Yahoo!") and
the President and Chief Executive Officer of Ziff-Davis Publishing Company, a
subsidiary of SOFTBANK, to purchase 40,000 shares of Yahoo! common stock owned
by SOFTBANK. The Option becomes exercisable in five annual installments
beginning April 1, 1997.


                                Page 2 of 3 pages

<PAGE>


         After reasonable inquiry and to the best of my knowledge and belief, 
I certify that the information set forth in this statement is true, complete 
and correct.

     March 27, 1997              SOFTBANK HOLDINGS INC.



                                      /s/ Stephen Grant
                                 By:  Stephen Grant, Secretary


                                Page 3 of 3 pages