Biz Break: Yahoo’s Tumblr may tumble to nothing of value

Top Of The Order: 

The New Math, Yahoo Style: Everyone knows that Yahoo is under fire, and may be up for sale. There are a ton of reasons why and how Yahoo got to where it is today. Like at any company, some things work out and some things don’t, and Yahoo has had its share of missteps over the last few years.

And it looks like one of those might cost Yahoo more than a billion bucks more than it should.

Remember almost three years ago, when Yahoo bought the blogging site Tumblr, and paid $1.1 billion for that company and its improperly spelled name? Well, it looks like Yahoo’s investment might end being worth nothing at all. Yahoo already said it had written off $230 million worth of Tumblr, and now, according to the company’s annual report, which it filed with the Securities and Exchange Commission on Monday, it might write off all of the remaining value of Tumblr. Yahoo said the writedown, if it comes to pass, would be due to a combination of things such as a smaller market share and slow revenue growth.

Or, the same things that are affecting Yahoo, overall.

Middle Innings:

Welcome To The Ahwahn…No, Wait…: A new era began at Yosemite National Park at midnight when the historic Ahwahnee Hotel had its name changed to the Super Awesome Totally Wonderful Place Of Happy Good Time Fun And Clean Beds Inn. Kind of rolls off the tongue, huh?

OK, actually, the Ahwahnee’s new name is the Majestic Yosemite Hotel. And every other one of Yosemite’s best-known areas is now going under a new moniker. Curry Village is now Half Dome Village. Badger Pass Ski Resort has become Yosemite Ski and Snowboard Area. You get the idea.

It’s all the result of a playground dispute going on between the National Park Service and Delaware North over the value of the trademarks of the Ahwahnee and Yosemite’s other famous areas. Delaware North had operated the sites from 1993 until Monday. Aramark is now running the facilities at the park.

Delaware North claims the trademarks are worth $51 million, while the Park Service thinks the Ahwahnee and other names have a value of $3.5 million. So…there’s a bit of a gap there. The Park Service is still holding out hope that a settlement can be reached.

Is It A Pollock? Or, a Picasso?: No, it’s a Google. The Internet giant put on an art show of its own in San Francisco that included pieces created by Google’s computers. Some of the artwork included works that, apparently, could have passed for van Gogh knockoffs. Six of the pieces sold for high as $8,000. So much for sending the kids to art school.

Strike Two, And Your Out, Again: Mark Pincus is clearing out his CEO office at Zynga for a second time. Shortly after the stock market closed Tuesday, Zynga said Pincus, who founded the online social-gaming company, would be replaced by board member Frank Gibeau. Pincus, who gave up his CEO position in 2013, then replaced Don Mattrick last April, is sticking around to become Zynga’s executive chairman.

And Speaking Of Sticking Around: Well, officially Prince is coming back. But after his two shows at the Paramount Theater in Oakland last Sunday, Prince is practically putting down stakes in the area, as on Tuesday it was announced that he will play a show at the Oracle Arena on Friday night. Tickets for his Piano and a Microphone show were scheduled to go on sale at 4 p.m. Tuesday at prices between $49.50 and $500.

Bottom Of The Lineup:

Here’s a look at how some leading Silicon Valley tech stocks did Tuesday…

Movin’ On Up: Pleasanton-based Workday saw its shares surge almost 19 percent a day after the cloud-based human-resources software company reported strong fourth-quarter results and said it expects billings to grow. Other gains came from Proofpoint, Imperva, Cepheid and Nimble Storage.

In The Red: Gaming company Glu Mobile fell 10.5 percent, while Zeltiq Aesthetics gave up 9.6 percent. Tesla Motors, Depomed and Linear Technology also ended the day in negative territory.

The SV150 Index of Silicon Valley’s biggest companies rose 2.4 percent to 1,548.

The tech-focused Nasdaq Composite Index climbed almost 3 percent to end the day at 4,689.

The blue chip Dow Jones Industrial Average rose 2.1 percent to close at 16,865.

And the broad-based Standard & Poor’s 500 Index added 2.4 percent to finish Tuesday at 1,978.

Quote Of The Day: “The best revenge is massive success.” — Frank Sinatra

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Photo: Yahoo CEO Marissa Mayer. (Robyn Beck, AFP/Getty Images)

 

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