Despite being the sum of decentralized and uncoordinated efforts by heterogeneous groups and individuals, the World Wide Web exhibits a well-defined structure, characterized by several interesting properties. This structure was clearly revealed by Broder et al (2000 Graph structure in the web Comput. Netw. 33 309) who presented the evocative bow-tie picture of the Web. Although, the bow-tie structure is a relatively clear abstraction of the macroscopic picture of the Web, it is quite uninformative with respect to the finer details of the Web graph. In this paper, we mine the inner structure of the Web graph. We present a series of measurements on the Web, which offer a better understanding of the individual components of the bow-tie. In the process, we develop algorithmic techniques for performing these measurements. We discover that the scale-free properties permeate all the components of the bow-tie which exhibit the same macroscopic properties as the Web graph itself. However, close inspection reveals that their inner structure is quite distinct. We show that the Web graph does not exhibit self similarity within its components, and we propose a possible alternative picture for the Web graph, as it emerges from our experiments.