Yahoo is the largest destination for brand advertisers. Unfortunately, it has been overshadowed by search.

We have hit the bottom of the advertising slump and are seeing a slow recovery, ... Things are not getting worse, and they are getting progressively better.

It is a positive move. Investors almost hated the e-commerce business because a it was low margin operation, ... What they like about Internet media companies is they get 80-to-90 percent margins on advertising and sponsorships agreements. Why bring it down by selling something that has no margins?

We also expect more spending on search advertising. On top of these broader economic sectors, we expect the Internet companies, in particular e-commerce players, will increase their spending noticeably. These trends together will bring more maturity to the online advertising sector in China.