Yahoo to be renamed Altaba, CEO to step down

IANS
Tuesday, January 10, 2017

Yahoo, which was acquired by US wireless communications service provider Verizon for a mere $4.8 billion in July last year, will soon be called Altaba, media reported on Tuesday, adding that Yahoo CEO Marissa Mayer will step down from the board of directors.

"Six Yahoo directors will be leaving after the Verizon sale, including Mayer," The Wall Street Journal reported.

After the sale of its core internet business, the company will change its name to Altaba Inc., Yahoo said in a regulatory filing.

The name is a combination of the words "alternate" and "Alibaba," a person familiar with the matter was quoted as saying.

"The idea behind the name is that Altaba's stock can now be tracked as an alternative to Alibaba because Yahoo owns a sizeable chunk of the Chinese company," The Washington Post reported.

The Yahoo acquisition will lead Verizon to firm up its operations in the digital ad space.

According to experts, the viable option for Verizon is now to marry online Yahoo assets with AOL, which it acquired for $4.4 billion. AOL has properties like The Huffington Post and technology websites Techcrunch and Engadget -- and now Yahoo Finance -- which together can become a strong digital advertising platform for Verizon.

"Verizon will surely monetise both Yahoo and AOL operations to get the best out of this deal," Vishal Tripathi, Research Director at global market consultancy firm Gartner, told IANS.

Photo-sharing website Flickr and the slowly growing microblogging and social networking website Tumblr are two Yahoo assets that show some promise for growth.

"Verizon has now got Tumblr, Flickr, Yahoo Sports and Yahoo News. With the consolidation, the deal may prove to be a sweet one for Verizon," Tripathi said.

The deal means an end to the struggle to survive for Yahoo which was once valued at over $125 billion at its peak in January 2000 when the dot com bubble was nearing its end.

Following the sale, the company will be left with about $41 billion it invested in the Chinese e-commerce company Alibaba as well as Yahoo Japan.

Verizon makes most of its money from mobile phone connections while Yahoo generated more than twice as much revenue from search and display ads on desktop computers than it did from its so-called MAVENs businesses (Mobile, Video, Native and Social).


Express your comment on this article

Submit your comments...
     
Disclaimer: The views expressed here are strictly personal and IndiansinKuwait.com does not hold any responsibility on them. We shall endeavour to upload/publish as many of the comments that are submitted as possible within a reasonable span of time, but we do not guarantee that all comments that are submitted will be uploaded/published. Messages that harass, abuse or threaten other members; have obscene, unlawful, defamatory, libellous, hateful, or otherwise objectionable content; or have spam, commercial or advertising content or links are liable to be removed by the editors. We also reserve the right to edit the comments that do get published. Please do not post any private information unless you want it to be available publicly.
Image

Teamwork Makes The Dream Work! – Nomaan Sidiq Budroo, Captain of Kuwait U-19 Cricket Team

Kuwait Cricket’s National U 19 team returned home after their best ever performance in the ICC U 19

Image

A Walk in the Garden…

Our garden in Salmiya is an exciting learning-place… Every walk in it, teaches something every time

Image

Take Thoughts Outside Box

"Where are the songs of spring? Ay, where are they?’’ I sighed, when others were busy with Keats, S

Image

‘Be what you are, Do what you can’, a self-confident go getter, N.K. Ramachandran Menon

He believes, ‘No one can influence anyone’. He believes, ‘I can only be me and it is true for ever

Image

How to carry out a winning scientific project?

I have been involved in judging scientific projects in schools and colleges for the past three deca

Image

Extraordinary artist of ribbon work – Mrs Poornima

Hand Embroidery is one of the most beautiful artworks. There are variety of Embroideries which uses

Image

Work hard, but enjoy your job – Ravi Varrier spending 40 years in a company!

Spending long working years with a company may not be a big deal if you are a sincere employee. But

Image

Smart Investing - Diversification is the Mantra: Don’t keep all the eggs in one basket

Investment is an activity which everyone should be involved once they start earning. But where to i

Image

They are disconnecting…

“Why do I need to learn about India? After all, I am going to live here—in Kuwait—all my life… I wa

Image

I Learn Anew Every Day - Kevin Mathew

Kevin Mathew was the youngest (and only Indian) TEDx speaker at TEDxAlShuwaikh, Kuwait, on Septembe

Image

New Menu at Zafran Puts Contemporary Spin on the Traditional

Fans of Zafran can rejoice as the popular Indian bistro launches a new menu this week. The front

Image

A nostalgic and delicious train journey in Kuwait at Kerala Express Restaurant

A train journey during our annual vacation in India is definitely a nostalgic experience for many o

Image

Mughal Mahal Exotica - An aromatic and exotic twist to Indian food

When it comes to Indian food in Kuwait, no doubt ‘Mughal Mahal’ set an example among the residents

Image

Experience Indian Corner Tandoori Nights at Al Manshar Rotana Hotel

Al Manshar Rotana Hotel at Fahaheel, Kuwait launched an authentic Tandoori Night with an Indian cor

Image

Maharashtra Mandal Kuwait Cricket Premier League and Photography Contest Kicked-Off

Maharashtra Mandal Kuwait is organizing “MMK Cricket Premier League 2018 Season- 3”. The event wi

Image

United Goans Centre Interschool Under-15 Football Tournament 2018

The United Goans Centre (UGC) held its Inter-school under-15 football tournament on 3rd February 2

Image

BOUBYAN bank Crowned Champions in the Cup Finals KFH Grabs the Plate Trophy

On the weekend of 27th January, Kuwait Cricket held the grand finals upon the completion of all the

Image

Saina Nehwal, P.V. Sindhu and the men's doubles pair

Saina Nehwal, P.V. Sindhu and the men's doubles pair of Satwiksairaj Rankireddy and Chirag Shetty a

Image

Prannoy, Saurabh guide Ahmedabad to PBL-3 semis

H.S. Prannoy powered Ahmedabad Smash Masters to a brilliant 4-1 victory over Mumbai Rockets, to adv