HomeGeneralYahoo Creates Holding Company "Altaba", Mayer Stays

Yahoo Creates Holding Company "Altaba", Mayer Stays

Sunnyvale, US, January 10 — While the brand Yahoo, along with all Internet services and media portals, is planned to be acquired by Verizon, the $30+ billion entity of Yahoo, which owns assets of Alibaba Group and Yahoo Japan, was not part of the Verizon deal.

This particular entity of Yahoo is going to become an own company and will be named “Altaba.” This newly established company does not have an operational business and won’t pursue the visions of Yahoo. It will not be a rescue boat to have Yahoo personnel independently continue with their visions.

Various news outlets currently report Yahoo CEO, Marissa Mayer, is resigning and that Yahoo will change their name to Altaba. This information, however, is seemingly not backed up by any press release or source from within Yahoo. At this moment we only know that Altaba was established as a holding company to manage the assets in Yahoo Japan and Alibaba.

Marissa Mayer intends to stay CEO of Yahoo, but Verizon has not yet confirmed whether or not they are in favor of that. Jeremy C. Owens from MarketWatch reports, “So Yahoo will still be Yahoo, Altaba will be a zombie company comprising a bunch of assets and few, if any, tasks, and Mayer may or may not still be running the actual Yahoo. No matter what anyone on Twitter says”.

It gets increasingly difficult to get news based on facts. We even have to doubt the fact-checking of major news outlets nowadays. I hope all those tweets and articles will be corrected soon. If you have feedback to share, please submit your comments below.

Photo credit: TechCrunch
Source: Jeremy C. Owens (MarketWatch)

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Christopher Isakhttp://www.christopherisak.com
Hi there and thanks for reading my article! I'm Chris the founder of TechAcute. I write about technology news and share experiences from my life in the enterprise world. Drop by on Twitter and say 'hi' sometime. ;)