Question-and-Answer Session
Operator
(Operator Instructions)
The first question comes from Youssef Squali from Jefferies & Company. Please go ahead.
Youssef Squali - Jefferies & Co.
Thank you very much. Terry, just to clarify something you said, when you announced the launch of Panama, you said it is now live. You are still talking about the front-end, meaning that the marketplace design or the new ranking algorithm is still slated in Q1. Do you have a date for that for us?
Second, you had mentioned some weakness or softness in the auto and finance verticals at a conference several weeks ago. I was wondering if you could just expand on that a little bit, and two weeks into the quarter, what are we seeing? Are we seeing any improvement there? Thank you very much.
Terry S. Semel
I will start with the first one, and that is the Panama question. I said it precisely the way it was said in the past. We have achieved exactly what we set out to achieve and that is, you are absolutely right, with the front-end going as of today and basically, marketplace design in the first quarter. That is how it has been said all along and that is how we are going to continue to say it. I feel very, very good about our capabilities and the people behind the steering wheel.
In terms of the advertising commitments, I am going to ask Dan to comment.
Daniel L. Rosensweig
Sure. We mentioned a few categories that were dealing with issues around their own categories. Mostly what we saw is a couple of our large advertisers who had company-specific issues, as I think Terry and Sue addressed in their comments. So there are a few categories that will continue to be a little bit slow and there are other categories that are continuing to grow quite nicely. I think that is a balance we are going to see regularly as we get larger and larger in this space, but mostly the issues were around companies who were having specific issues to them.
Operator
The next question comes from Mark Mahaney from Citigroup. Please go ahead.
Mark Mahaney - Citigroup Smith Barney
Thank you very much. I think Terry, you mentioned the market going through transition with new forms of ad inventory available. Could you help us think through or quantify the level of exposure you have to the non-premium ad inventory? In other words, what percentage of your display advertising do you think is facing greater competition from these new types of inventory? Thank you.
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