Yahoo In Doldrums: CEO Marissa to Leave After Yahoo Renames Itself As Altaba inc
By MEHER ONISA : 10-Jan-2017
CALIFORNIA: Yahoo Inc, an American multinational technology company headquartered in Sunnyvale, USA has asserted that it would change its identity and be called as Altaba Inc while merging itself with Alibaba a Chinese e-commerce firm and another Japanese conglomerate.
YAHOO THE DULLSVILLE OF TODAY WAS ONCE A PIONEER:
The company was globally known for its Yahoo! web portal, Yahooo! Search engine, Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Finance, Yahoo! Groups, Yahoo! Answers, Yahoo online mapping, video sharing, fantasy sports, and Yahoo social media was the pioneer of the internet era back in 90’s. It was founded by Jerry Yang and David Filo in January 1994.
YAHOO’S ACQUISITION DEAL WITH VERIZONA:
Yahoo, the oddball will enter into a sales deal worth $4.83 billion with Verizon for its end to end internet businesses including digital advertising, email and media assets.
The apportion is likely to undergo a phase of amendment in the terms.
Altaba Inc, a holding company has assets involving 15% stake in Chinese company Alibaba Group Holding and 35.5% of the share in Yahoo Japan.
YAHOO’S TOP CADRE RESIGNS:
The Chief Executive Officer Ms. Marissa Mayer would take the exit dispensations from the board once the deal is signed with Verizon Communications Inc.
In a regulatory filing, the company mentioned about the other top five of its directors who would resign from their functions.
ALTABA INC AND ITS NEW CORPORATE LADDER:
The new company has selected Eric Brandt as the chairman of the board who would assume the office effective from January 9. The order directors in the hierarchy will govern the new body. More transformations are yet to be brought into the rankings of the existing electives.
YAHOO FACES BREACH OF DATA:
Last year, Yahoo had dispensed information about two separate data breaches with first one involving 500 million customer accounts and the second involving more than a billion.
Verizon, the prospective company’s executives said that they paramount opportunities acquiring Yahoo but they are in the process of investigating on the data breaches.