It’s the end of an era: Yahoo as we know it is no more.
While we already knew most of the venerable company was being sold to Verizon – a $4.8 billion purchase – the remainder of company today announced that it’s renaming itself to ‘Altaba,’ according to TechCrunch.Ever been to a tech festival?
TNW Conference won best European Event 2016 for our festival vibe. See what's in store for 2017.
Altaba. Seriously. It’s sounds a bit like a portmanteau of defunct 1990’s search engine Altavista and Alibaba, both of which are either partially or wholly owned by the company.
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.
According to a filing with the SEC, all but 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.
While there’s nothing preventing Mayer from having a role in the restructured company, nothing has been announced yet.
Marissa Mayer resigning from Yahoo board as remaining company renames itself Altaba on TechCrunch
Read next: Trello acquired by Atlassian for $425mContact Mail Tweet Location New York City, US Posts 1872 Posts / mo. 44.15 All posts by Napier >