Yahoo Renamed as Altaba: Time to Say Goodbye to Yahoo After Deal With Verizon
Time to say goodbye to Yahoo because it is soon going to be renamed as Altaba. After getting merged with Verizon, the Yahoo Inc. will be addressed as Altaba Inc. and CEO Marissa Mayer will step down from the board of Yahoo directors. Verizon is going to buy search engine of Yahoo and its web portal in $4.83 billion. The organization along with Security and Exchange Commission announced that after the planned sale of Yahoo’s core business to telecom giant Verizon, the leftover will alter its name and now Yahoo renamed as Altaba.
Quick Solution – How to Deal When Yahoo Renamed as Altaba?
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About The Deal: Yahoo Renamed as Altaba
There is an agreement that after the accomplishment of business deal with Verizon, Yahoo to be renamed as Altaba. In this, Yahoo will have to sell its entire core business over the internet in $4.83 billion. This business involves selling of emails, media assets, and digital advertising domains of Yahoo. The remaining fields of the company will come under Altaba Inc., whose primary assets involve 15% stake in a Chinese e-commerce company, named as Alibaba Group Holding Ltd. and 35.5% of stake is for Yahoo Japan, a joint venture with Softbank.
The newly created company will be working as an investment organization, which will be having only five members of the board. The five members of the board of Yahoo directors are listed below:
- Catherine Friedman
- Jeffrey Smith
- Thomas Mclnerney
- Tor Braham
- Eric Brandt
Apart from the above-mentioned members, the remaining company’s board are resigning Yahoo after successful completion of the deal. CEO Marissa Mayer will step down from Altaba Inc if this deal takes place. Well, the Yahoo acquisition deal was earlier rumored to be on top, when organization revealed its several breaches related to security. After getting knowledge about hacking and spying, Verizon was expecting some discount in the deal with Yahoo, which can still be changed before deal completion. When the deal will be completed, it is an assumption that Yahoo brand name might still exist because it can be Verizon. It is so because telecom giant Verizon will easily be able to acquire consumers online services with Yahoo name.
Yahoo email users can now say that they are using Altaba account for mailing purpose. However, a question arises that how can one create a backup of this newly named account i.e., Altaba. Then, the answer to this question is that one can use Yahoo backup products for Altaba emails backup. It means that third-party utilities, which are available in the web market to create Yahoo account backup can also be used as Altaba backup.
Observational Verdict
Recently, Yahoo had announced that, as the time of merging with Verizon is coming close, what is all left in the company will all be Yahoo renamed as Altaba. For facilitating the transition of the organization to an investing company, Yahoo co-founder David Filo, CEO Marissa Mayer, would step down from the board of directors. In addition, if in case Yahoo renamed as Altaba then also customers can backup emails of their account using third-party utilities.