While Yahoo’s center web business was being sold to Verizon for $4.8 Billion, the rest of the portions of the company abandoned is renaming itself to Altaba Inc, which makes a sad ending of a standout amongst the most well known brand names on the internet.
In an open filing with the Securities and Exchange Commission (SEC) on Monday, the company reported that after the arranged sale of its center business to telecom giant Verizon, the remaining company portions would change its re-brand to Altaba.
In this way, the company’s brand name you know about will integrate with Verizon, and it is conceivable that the telecom titan may keep on using the Yahoo brand for a portion of the services that it will procure in the arrangement.
The rest of the company under the new name Altaba Inc. is clinging to its 15% ownership of Alibaba and 35.5% stake in Yahoo Japan, which is a joint venture with Softbank.
The saddest part of the entire saga is the end of one of Silicon Valley’s most conspicuous pioneers.
Established by Stanford graduates Jerry Yang and David Filo in 1994, Yahoo was before the ruler of the Internet, yet it lost out to more innovative rivals including Google and Facebook.
Yahoo was previously a $125 billion behemoth as large in its time as Facebook or Google are today, yet Mayer’s time at the company has been defaced by abating development and inner difference, which prompts to the end of one of the pioneers of the early internet era
Yahoo — or, should we say Altaba now?
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