Goodbye Yahoo: The service provider Verizon Communications and Search Engine Yahoo are presently on a deal. Once the deal goes through then the company will change its name to Altaba Inc. the company will give over its digital services in case the deal is through. The present Yahoo CEO Marissa Mayer and four other directors with the co-founder David Filo are on Yahoo’s 11 member board. They would resign once the sale is completed. Verizon will still retain the Brand Yahoo under its ownership. The deal is a $4.8 billion sale of Yahoo’s email, websites, mobile apps and advertising tools to Verizon. Yahoo name changes transformation into a holding company for investments in China’s e-com Alibaba Group and Yahoo Japan. These entities are combined worth more than $40 billion.
There was one incident that jeopardises the deal. In the years 2013 and 2014, there were hacking intrusions that led to one billion user accounts personal data being stolen. This was recently discovered by the company Yahoo. Verizon is currently re-assessing the deal negotiations on the sale price or deal cancellations. They are considering the recent hacking revelations that could make many Yahoo users upset about sensitive personal details being stolen. Meanwhile, Yahoo is fighting to keep the proposed deal.
Goodbye Yahoo! Hello Albata: CEO Marissa Mayer to Leave Yahoo after Verizon Deal
On Monday the director of the search engine and email services provider Yahoo director Eric Brandt became the company’s chairman. He would replace Maynard Webb chairman emeritus until the Verizon deal is closed. It was only 10 months ago that Eric Brandt joined Yahoo’s Board. He was formerly the Chief Financial Officer of the chip manufacturer company called Broadcom. Maynard Webb will resign along with the others Eddy Hartenstein, Richard Hill and Jane Shaw, Yahoo CEO Marissa Mayer & Co-founder David Filo.
Yahoo! Inc. began as a pass time experiment for two of its founders David Filo and Jerry Yang in the year 1994. The two were back then pursuing an electrical engineering graduation course from Stanford University. Now it is one of the two largest Internet companies and overtook its long-time rival Google in 2012.