Yahoo will be renamed to Altaba
and CEO Marissa Mayer will step down from its board of directors after closing its deal with Verizon Communications, including plans to turn over its email, websites, mobile apps and advertising tools. But it’s not as bad as it sounds because the Yahoo search engine, blogs and homepage will continue to stick around.
Image: New Yorker
Back in July, Verizon agreed to buy a portion of Yahoo, but not all of it. The acquisition will essentially split the company in two: one which includes most Yahoo products that people visit on the web, and another is just a holding company, which will maintain its shares in Alibaba and Yahoo Japan among other things.
However, one important point to note is that none of this happens until Verizon’s acquisition of Yahoo closes, a fact that is no longer a given following two damaging hacks that stole personal information from over one billion users, which occurred after the deal was announced. If Verizon decides to turn the other cheek and look for a way out, we can pretty much disregard all of the above.
Just out of curiosity, do any of you still use Yahoo?