Farewell Yahoo. Hello, Altaba. last year, Verizon acquired the Yahoo in a deal worth around $5 billion. The deal seems pretty much working, the remainder of Yahoo (the company’s 15% stake in Alibaba and 35.5% stake in Yahoo Japan) which wasn’t sold has been renamed as ‘Altaba’.
Marissa Mayer took over the money-losing company back in 2012. Despite her attempts to gain back the momentum, she couldn’t save the company from sinking. Yahoo was also reported major security breach last year, losing users trust, the company has also lost investors on the way and that’s it. This is was very much clear when the internet giant’s CEO stepped down.
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Yahoo-Verizon Deal: Altaba
The Verizon-Yahoo deal is in its final stages, According to a filing by Yahoo with the Securities and Exchange Commission (SEC), most of the Yahoo board members will be stepping down after the deal closes.
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Though the filing precisely reveals that except five members (Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith), rest of the Yahoo board members will be stepping down, which also includes CEO Marissa Mayer, but it is expected that Mayer might get a role in Yahoo’s integration at Verizon.
Source | SEC Filing
Atish is the fountainhead and Editor-in-chief of TechDipper. He holds an engineering degree in Computer Science. A fervent tech enthusiast who likes to write about bleeding edge technology.
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