Alibaba is valued at about $153 billion, according to analysts
surveyed by Bloomberg News. Yahoo itself is worth about $39
billion as of this writing and this includes its ownership of
about 24 percent of Alibaba. If you subtract that out you are left
with a company that’s worth just a little more than $2 billion —
less than AOL Inc., Groupon Inc., or Zynga Inc.
Yahoo also has a 35 percent stake in Yahoo Japan, a publicly
traded company now valued at about $32.3 billion. Subtract out
Yahoo’s stake and this means that investors seem to value Yahoo’s
own business at less than nothing — not what you would expect
from a profitable enterprise.
I’d say this is more damning of Wall Street than Yahoo.