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Yahoo to be renamed as Altaba

Posted On :: Tuesday 10th January 2017
Yahoo, which was acquired by US wireless communications service provider Verizon for a mere $4.8 billion in July last year, will soon be called Altaba, according to reports. It could also be learnt current CEO Marissa Mayer will step down from the board of directors.
Yahoo, which was acquired by US wireless communications service provider Verizon for a mere $4.8 billion in July last year, will soon be called Altaba, according to reports. It could also be learnt current CEO Marissa Mayer will step down from the board of directors.
By: G Plus News

Yahoo, which was acquired by US wireless communications service provider Verizon for a mere $4.8 billion in July last year, will soon be called Altaba, according to reports. It could also be learnt current CEO Marissa Mayer will step down from the board of directors.

"Six Yahoo directors will be leaving after the Verizon sale, including Mayer," The Wall Street Journal reported. After the sale of its core internet business, the company will change its name to Altaba Inc., Yahoo said in a regulatory filing.
 
It was also reported that the idea behind the name is that Altaba's stock can now be tracked as an alternative to Alibaba because Yahoo owns a sizeable chunk of the Chinese company. The Yahoo acquisition will lead Verizon to firm up its operations in the digital ad space.
 
Following the sale, the company will be left with about $41 billion it invested in the Chinese e-commerce company Alibaba as well as Yahoo Japan.
 
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