View:
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 5)*
Yahoo! Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.001 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
984332-10-6
- --------------------------------------------------------------------------------
(CUSIP Number)
- --------------------------------------------------------------------------------
RONALD FISHER STEPHEN A. GRANT, ESQ.
SOFTBANK HOLDINGS INC. SULLIVAN & CROMWELL
10 LANGLEY ROAD, SUITE 403 125 BROAD STREET
NEWTON CENTER, MA 02159 NEW YORK, NY 10004
(617) 928-9300 (212) 558-4000
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
October 29, 1999
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If a filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
*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).
(continued on following pages)
Page 1 of 8 Pages
13D
- --------------------- -----------------
CUSIP NO. 984332-10-6 PAGE 2 OF 8 PAGES
- --------------------- -----------------
- -------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SOFTBANK America Inc.
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 61,017,167
REPORTING --------------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
61,017,167
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
61,017,167
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.2%
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
HC, CO
- -------------------------------------------------------------------------------
13D
- --------------------- -----------------
CUSIP NO. 984332-10-6 PAGE 3 OF 8 PAGES
- --------------------- -----------------
- -------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SOFTBANK Holdings Inc.
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 61,017,167
REPORTING --------------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
61,017,167
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
61,017,167
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.2%
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
HC, CO
- -------------------------------------------------------------------------------
13D
- --------------------- -----------------
CUSIP NO. 984332-10-6 PAGE 4 OF 8 PAGES
- --------------------- -----------------
- -------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SOFTBANK Corp.
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Japan
- -------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 61,122,167
REPORTING --------------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
61,122,167
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
61,122,167
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.2%
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
HC, CO
- -------------------------------------------------------------------------------
13D
- --------------------- -----------------
CUSIP NO. 984332-10-6 PAGE 5 OF 8 PAGES
- --------------------- -----------------
- -------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Masayoshi Son
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Japan
- -------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 61,122,167
REPORTING --------------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
61,122,167
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
61,122,167
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.2%
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------
SOFTBANK America Inc., a Delaware corporation ("SB America"), SOFTBANK
Holdings Inc., a Delaware corporation ("SBH"), SOFTBANK Corp., a Japanese
corporation ("SOFTBANK"), and Mr. Masayoshi Son, a Japanese citizen ("Mr. Son"
and, together with SB America, SBH and SOFTBANK, the "Reporting Persons"),
hereby amend and supplement the statement on Schedule 13D previously filed by
them, as heretofore amended and supplemented, with respect to the Common Stock,
par value $0.001 per share (the "Common Stock"), of Yahoo! Inc., a California
corporation (the "Issuer"), beneficially owned by them. Except as amended and
supplemented hereby, the statement on Schedule 13D, as heretofore amended and
supplemented, remains in full force and effect.
Item 5. Interest in Securities of the Issuer.
------------------------------------
The percentage interest held by each Reporting Person presented below
is based upon 263,240,287 shares of Common Stock reported as outstanding as of
October 31, 1999 in the Issuer's Form 10-Q report for the quarter ended
September 30, 1999.
SB America is a wholly-owned subsidiary of SBH, which in turn is a
wholly-owned subsidiary of SOFTBANK. Mr. Son is the President and Chief
Executive Officer of SOFTBANK and owns an approximately 38.3% interest in
SOFTBANK. Accordingly, securities owned by SB America may be regarded as being
beneficially owned by SBH; securities owned by SBH may be regarded as being
beneficially owned by SOFTBANK; and securities owned by SOFTBANK may be regarded
as being beneficially owned by Mr. Son.
On October 29, 1999, 1,244,532 shares of Common Stock owned by SOFTBANK
Technology Ventures IV L.P. and 25,397 shares of Common Stock owned by SOFTBANK
Technology Advisers Fund L.P. were distributed to the partners of these
partnerships. STV IV LLC, the general partner of each of these partnerships,
received its pro rata share of these distributions, and it in turn distributed
the shares it received to its members, including SB America as the owner of a
50% interest in STV IV LLC. As a result, SB America received 29,040 shares of
Common Stock which it now holds directly, and it no longer beneficially owns
indirectly the 1,269,929 shares of Common Stock previously owned by SOFTBANK
Technology Ventures IV L.P. and SOFTBANK Technology Advisers Fund L.P. In
addition, on October 11, 1999 an option to purchase 240,000 shares of Common
Stock at $3.125 per share granted by SBH to an executive on December 13, 1996
was exercised to the extent of 30,000 shares of Common Stock.
As of the date of the filing of this Statement, SB America beneficially
owns, and SBH, SOFTBANK and Mr. Son may be deemed to beneficially own through SB
America, 61,017,167 shares of Common Stock. Eric Hippeau, a director of the
Issuer and Chairman and Chief Executive Officer of Ziff-Davis Inc., a subsidiary
of SBH, holds options to purchase 210,000 of these shares at $3.3125 per share
and 67,680 of these shares at
Page 6 of 8 Pages
approximately $10.97 per share, and Ronald D. Fisher, Vice Chairman of SBH,
holds options to purchase 11,280 of these shares at approximately $10.97 per
share. SOFTBANK may be deemed to own an additional 105,500 shares of Common
Stock by virtue of its ownership of all of the stock of SOFTBANK Ventures Inc.,
a Japanese corporation, which is the "operating principal" under a "silent
partnership agreement" (a so-called tokumei kumiai keiyaku) under Japanese law
and has voting power and investment power over such 105,500 shares. Mr. Son may
also be deemed to be an indirect beneficial owner of such 105,500 shares
beneficially owned by SOFTBANK by virtue of Mr. Son's ownership interest in
SOFTBANK. The total beneficial ownership of SB America and SBH amounts to
61,017,167 shares of Common Stock, which represents approximately 23.2% of the
outstanding Common Stock, and the total beneficial ownership by SOFTBANK and Mr.
Son amounts to 61,122,167 shares of Common Stock, which represents approximately
23.2% of the outstanding Common Stock.
Item 7. Material to be filed as Exhibits.
--------------------------------
14. Agreement of Joint Filing, dated as of January 11, 1999, among SB
America, SBH, SOFTBANK, Mr. Son and SOFTBANK Ventures, Inc. (Filed as
Exhibit 6 to Amendment No. 1 to the Statement on Schedule 13D filed on
January 12, 1999 by SOFTBANK and others with respect to the Common
Stock of the Issuer and incorporated herein by reference.)
15. Power of Attorney by SOFTBANK and Mr. Son. (Filed with Statement on
Schedule 13G filed on February 17, 1998 by SOFTBANK, Mr. Son and
SOFTBANK Ventures, Inc. with respect to the Common Stock of Concentric
Network Corporation and incorporated herein by reference.)
Page 7 of 8 Pages
SIGNATURE
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.
Dated: November 23, 1999
SOFTBANK AMERICA INC.
By: /s/ Stephen A. Grant
----------------------
Secretary
SOFTBANK HOLDINGS INC.
By: /s/ Stephen A. Grant
----------------------
Secretary
SOFTBANK CORP.
By: /s/ Stephen A. Grant
----------------------
Attorney-in-fact
MASAYOSHI SON
By: /s/ Stephen A. Grant
----------------------
Attorney-in-fact
Page 8 of 8 Pages