Well, it is now Official! Yahoo has been Renamed to Altaba – You might be wondering why, the actual reason is that the Yahoo CEO Marissa Mayer resigns from board!
And if you can still recall, Yahoo was bought by Verizon and yea, the price is $4.8 billion! Few hours ago, Yahoo left the name to Altaba!
According to what the company said in the Verizon post, “When the transaction is closed – expected to happen in the first quarter of 2017 — Yahoo will change its name and become a publicly traded investment company, the company said”
Meanwhile, the name “Altaba” To me, the sound of it looks more like a portmanteau of defunct 1990’s search engine Altavista and Alibaba, both of which are either partially or wholly owned by the company.
Someone says on twitter;
"Altaba" is Latin for "We should have taken Microsoft's $45 billion offer in 2008."
— Ivan the K™ (@IvanTheK) January 10, 2017
Anyways, this is the portion of the company that maintains a 15 percent ownership of Alibaba and 35.5 percent stake in Yahoo Japan. Altaba will operate as an investment company from here on out.
And yes, Five of Altaba’s board of directors will step down upon the conclusion of the deal, namely David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw, Maynard Webb, and Marissa Mayer.
No more news for now, we will definitely update you, once FBL get hold of more news.