Thursday, 12 January 2017

Verizon Plans To Buy Yahoo, Change It's Name To Altaba

For some years now, yahoo has really been faced with a whole lot of problems and setbacks, most especially the recent saga where the site was hacked and over 1 billion user accounts and passwords were stolen.

I guess it all became too much for yahoo to bear and they finally decided to put up the company for sale. Now Verizon has decided to buy Yahoo's digital service for a propose fee of $4.8 billion dollars.

Now in a bid to get the company back on track, lots of changes needs to be made such as replacing most of Yahoo's board members. Also, immediately yahoo hands over its email, websites, mobile apps and advertising tools to Verizon, the new owner also plans on renaming the company from Yahoo to altaba Inc.

The board members that will be replaced includes Yahoo CEO Marissa Mayer, cofounder David Filo, and three other directors. While the new Altaba board members includes, Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith, will remain, with Brandt serving as Chairman. Also, according to what we heard, the new company might actually be an “investment company.”

I guess we all just have to wait for the official announcement.

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