Founded in 1995. Yahoo! provides a network of websites offering news, entertainment, and shopping, as well as search results powered by Microsoft's Bing. Yahoo! generates most of its revenue through providing search and display advertising to web operations. Selected financial results from Yahoo!'s 2014 10-K filing are provided below (all amounts are in $ thousands) Yahoo! has invested in Alibaba Group, a Chinese e-commerce company, since 2005. Yahoo!'s investment in Alibaba for the past two fiscal years is as follows: Estimated Fair Value S39,867,789 S58.788,462 Percent Cost Basis $2,713,484 1,018.126 Ownershi Dec. 31, 2014 Dec. 31, 2013 15% 24% Yahoo! classifies passive investments in equity securities as available-for-sale The following table presents summarized information from Alibaba's U.S. GAAP financial statements For the fiscal year ending December 31., Revenue Gross profit Income from operations Net income 2014 $7,584,93.2 5,592,862 3,437,766 4,309,405 2013 $6,734,978 4,983,444 3,236,733 2,847.139 On June 19, 2013, Yahoo! acquired a 100% interest in Tumblr, a blog-hosting website. Yahoo! paid $990.000 in cash and obtained the following separately identifiable assets and liabilities Fair Value (in S thousands) Cash and marketable securities Other tangible assets Developed technology Customer contracts and related relationships Trade name Liabilities assumed $ 16,587 76,566 23.700 182,400 56,500 (114.521) Separately identifiable intangible assets acquired have useful lives not exceeding six years