Don’t Worry; Yahoo Is Not Changing Its Name to Altaba
As reports would have you believe, Yahoo was to change its name to Altaba after it sold itself to Verizon. There has been a slight misunderstanding on that part. As it turns out, Yahoo aims to retain its original name even after selling itself to Verizon. Only the part, which has not been signed off to Verizon, will be named Altaba. Yahoo’s shareholders held on to some of the company’s lucrative investments, including a 36% stake in Yahoo Japan and a 16% stake in Alibaba.
The deal was signed back in July of last year, where Verizon bought off the search engine and its web portal for $4.83 billion. The remaining entity which hasn’t been sold to Verizon will be named Altaba. This is accompanied with the loss of Marissa Mayer and 5 other board members. Mayer will reportedly step down from its board, but will continue to be CEO.
All the services like email, search and news will be integrated with Verizon AOL, but the branded names like Yahoo Finance and Yahoo Sports will be retained.
The company has remained an independent company for almost 21 years but this deal marks the end of its independence. It was not just Twitter and SoundCloud that had a rough time last year.
Critics raise questions about the Yahoo-Verizon deal
After the massive breach of about 1 billion Yahoo accounts, it is natural for us to be asking questions about why Verizon is even considering to buy a company whose cyber security has been severely compromised. This has been the largest breach in the history.
Marrissa Mayer took over the company in 2012 with the intention of turning it completely around but it was a massive fail. Under her rule, the company is reported to have lost $4.4 billion. It would push anybody to the limits of quitting the company altogether. But again, Mayer is adamant on maintaining her position as the CEO even after the company is signed off to Verizon. She had said last year in a Tumblr post that it “is important to me to see Yahoo into its new chapter.”
That is an admirable quality for a CEO to have, to see through its company in thick and thin. Let’s see what Yahoo has in its future.