Yahoo has been in spotlight during the second half of 2016. It was hit by major security breaches affecting 1 billion user accounts and was also rumored to be involved in spying operation and helped US Government. In July 2016, Verizon Communications announced its plans to acquire Yahoo.
Yahoo, most esteemed company and among one of the pioneers of early Internet founded in 1995, has been acquired by Verizon Communications for $4.8 billion.
Verizon bought AOL for $4.4 billion in 2015 and now Yahoo is going to be the next Web Giant to be acquired.
Today, Facebook and Google are considered to be the most dominating companies in the U.S. digital market. On the other hand, Microsoft, Yahoo and AOL are way far behind and don’t have much market share.
According to The Verge, Verizon will pay for Yahoo Mail, Yahoo search, and its blogs. However, important parts of Yahoo will be left behind that include stakes in Alibaba and Yahoo Japan.
After the sales of Yahoo’s core business to Verizon, Yahoo announced on Monday that the remaining assets would be organized in a different company to be named as “Altaba”—a name which sounds more like a juvenile murmur than the leftovers of a once-upon-a-time most powerful web giant.
The new company name is a combination of two words “alternative and Alibaba,” according to a person familiar with the company’s thinking and strategy. The vision behind the new name is to reflect Yahoo’s renovation into a company for investments in Alibaba Group- a Chinese E-commerce investment company, and Yahoo Japan.