Yahoo is NOT changing its name to Altaba


Yahoo is NOT changing its name to Altaba

Yahoo Inc. has revealed some of its plans after its US $4.8 billion sale to Verizon. After the acquisition, CEO Marissa Mayer, Yahoo cofounder David Filo, and three current board members will resign from the board and intends to change the company’s name to Altaba Inc.

Most headlines are misleading, oversimplifying Yahoo's filing. The Yahoo that you know is not changing its name.

According to Yahoo Finance, the company that will change its name to Altaba is “RemainCo,” the entity that will remain even after Verizon closes its acquisition. Yahoo Core, the assets that Verizon is buying, and the Yahoo email, search, media and finance will not change its name.

Also, Verizon has said repeatedly that it values the Yahoo brand, where they will continue to invest in.

RemainCo, who will change its name to Altaba, will contain a 15 percent stake in Alibaba, a 35 percent stake in Yahoo Japan, and a small portfolio of patents called Excalibur. Yahoo Finance explained that it will arguably amount to a holding company for shares of Alibaba, basically an alternative Alibaba, hence “Altaba.”

Source: Yahoo Finance

All News Categories