Yahoo will be renamed Altaba

Whether Verizon is going to move forward with the $4.8 billion Yahoo acquisition or not might not be sure. However, Yahoo will be renamed Altaba has been confirmed anyway.

One billion accounts have been compromised while the rest remain unsure. The Yahoo SEC filing yesterday has confirmed the renaming. However, if Verizon acquires the company then they might not change the name. It is because Verizon will only acquire important portions of Yahoo. The left behind named Altaba shall operate as an investment firm to compromise 15% AliBaba and 35.5% Yahoo Japan stakes.

The proceedings

The Yahoo CEO, Marissa Mayer shall step down and resign while Cofounder David Filo with other 4 board members. The four include Eddy Hartenstein, Richard Hill, Jane Shaw, and Maynard Webb. Marissa’s position is uncertain as she might be asked to become Altaba’s part. She might be even helping Verizon to integrate the Yahoo business while Altaba would be working on ensuring profitable returns.

On one hand, the internet is full of news like Yahoo building backdoor for US authorities or accounts being hacked. On the other hand it is a sad end for the pioneers who once had above $125 billion worth.