Verizon acquires Yahoo, Change Company’s name to Altaba

Sometimes last year, Verizon made known its plans to acquire Yahoo in a $5 billion deal, fast forward to the present hour, the company announced the change, putting behind the usual name and rebranded most of the company web platform to Altaba

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Following this change, Yahoo CEO Marissa Mayer, co-founder David Filo, and three other directors will be stepping down. while the new Altaba, will have the likes of Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith, with Brandt serving as Chairman.

Despite the change and acquisition, Yahoo is believed to still retains 15% ownership share of Alibaba, and is reportedly said to be worth $35 billion, interestingly the change will only affect some wing of the company asset, such as email, websites, mobile apps and advertising tools

However, Yahoo sale to Verizon seems to still be in negotiation, following two recent disclosures of major data breaches that has put thousands of user account data at risk which might prompt Verizon to renegotiate terms of the deal.

About the author

Samuel Oyegoke

Tech Blogger | An Urban Planner | Writer | Web Designer | Freelancer & A Web Consultant

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