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Just to list a few of the valuable properties off-hand: Homepage, Mail, Search, Tumblr, Flickr, Finance, News, Sports, Fantasy sports (including daily fantasy). Some of the bigger ones are billion+ dollar properties. Others are hundreds of millions.

> It's not clear to me that it actually does anything worth paying for at this point.

Few users of Google and Facebook actually "pay" for those services, they're primarily all advertising funded companies.

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In what sense are they billion dollar properties?

I didn't mean that users would pay for them; I meant that I don't see how one could use them to make money, or at least enough money that it would be worth bothering to acquire them.

Mail is the #1 e-mail provider.

News is massive.

Sports is massive and has one of the top Fantasy operations, a growing market.

Homepage is still the homepage for people who set homepages.

All are monetized through one of the most effective ad selling operations out there.

This is news to me. I suppose it is because I now move into more restricted Internet circles (not so much time to waste as I used to have), but I haven't visited anything Yahoo!-related since 2004? 2005?

Glad to hear they still have a following. I thought GMail and Hotmail were bigger than Yahoo! Mail but what do I know!

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