The End of the Road for Yahoo: To be Called Altaba if Verizon Takes Overby Sidharth Shekhar January 10, 2017 0 comments
Yahoo will change its name to Altaba, if the firm is bought by Verizon.
Mayer, along with co-founder David Filo and four other members of the board will step down after the deal closes.
Verizon is acquiring the operating business under the proposed transaction, while Yahoo’s remaining business, which consists primarily of its stake in Chinese e-commerce giant Alibaba and its partnership in Yahoo Japan, will continue to exist as a separate company.
The board resignations announced on Monday refer to the remaining investment company that’s not going to Verizon, and which will be renamed ‘Altaba,’ the company said.
Mayer’s resignation from the new board is ‘not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,’ the filing says.
However, the closing of the roughly $4.8 billion sale to Verizon can become a huge problem after two huge hacks faced by Yahoo. In the filing, Yahoo said Verizon could terminate its purchase of Yahoo or renegotiate the terms because of the hacks.
Yahoo failed because it couldn’t capitalize on the internet advertising boom, something that made Google one of the top companies in the world. To save the company Yahoo brought Mayer from Google but even she couldn’t save it.
There was a time when everyone was using Yahoo messenger and email which made it one of the top web companies in the world. But then, Google happened.