Yahoo! is renaming itself to “Altaba” and its CEO, Marissa Mayer, will exit the board of directors when the Verizon deal closes.
In July, Verizon announced its intention to acquire the core Yahoo! business – email, search engine and various apps – for $4.8 billion dollars.
The remainder, is a company that owns 15% of the Chinese merchant giant, Alibaba, a $35 billion value.
That part, will be renamed Altaba.
The name is an amalgam of “alternative” and “Alibaba.”
The domain Altaba.com appears to have been acquired in late October by Yahoo!, perhaps with the assistance of Mark Monitor. Currently, it does not resolve.
Before that, Altaba.com belonged to a Spanish company, which continues using the domain Altaba.cat for now.
Altaba will be publicly traded, and it also owns 35.5% of Yahoo Japan, the Yahoo! cash reserves, along with a patent portfolio that will be auctioned off separately.
RIP Yahoo. Welcome aboard, Altaba!
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