FILE - In this Feb. 19, 2015, file photo, Yahoo President and CEO Marissa Mayer delivers the keynote address at the first-ever Yahoo Mobile Developer's Conference, in San Francisco. In a decision announced Thursday, March 10, 2016, Yahoo set up a battle for control of its board by appointing two directors likely to further agitate an activist shareholder threatening to lead an investor mutiny aimed at ousting Mayer unless she bows to demands to sell the company’s Internet operations. (AP Photo/Eric Risberg, File)

Yahoo renamed ‘Altaba’ and Marissa Mayer resigns from board

Yahoo is no more, an end of a fabulous era troubled by issues one after another in the last few years the company has taken a paradigm shift in the structure. For those who grew up in internet boom have seen the best of Yahoo as once it was the only preferred search engine and chat messenger.

As covered last year, the company was acquired by Verizon for $4.8 billion purchase, now the remainder of the company says it has named itself to Altaba.

Altaba is going to operate as an investment company from now onwards. This portion of the company also maintains a 15% ownership of Alibaba and 35.5% stage in yahoo Japan.

All but five of Altaba’s board of directors will step down  once the deal is finalized. Their names are David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw, Maynard Webb, and Marissa Mayer *CEO Yahoo*.

The story is developing..

Via: Tech Crunch


Facebook Comments