Basically, an influential shareholder has resorted to spending company money (from deferred dividends and sale of the Alibaba stake, etc.) to drive up the company's stock, after which the shareholder cashed out, as the stock soared.
There seemed to be no rhyme or reason behind the Yahoo acquisitions. For example, why Xobni? The two founders have already left Xobni. So if it was an acquihire, then who was Yahoo trying to acquihire? And if it wasn't, then why did they shut down their products?
But now I understand what was happening. It didn't matter what Yahoo was buying, or whether any of it made sense. In fact, the less sense it made, the more buzz got created, as people tried to figure out Marissa Mayer's master plan.
Basically, an influential shareholder has resorted to spending company money (from deferred dividends and sale of the Alibaba stake, etc.) to drive up the company's stock, after which the shareholder cashed out, as the stock soared.