Yahoo! Shakeup Drops Mayer, Changes Name

By Steve Anderson January 11, 2017

The saga of Yahoo! has been a long, strange saga indeed, from bizarre business models to unfathomable telecommuting decisions and well beyond. Now, the beleaguered company is poised for a sale to Verizon. Before that, however, comes a host of changes that start at the name and go through the company itself.

Perhaps the biggest change is that Yahoo! will no longer be Yahoo! after the close of a sale to Verizon, but rather, Altaba. Verizon has been planning to purchase Yahoo! for around $4.83 billion, which doesn't include either Yahoo! Japan or Yahoo!'s Alibaba stake.

Close on the list of big changes is Marissa Mayer's evacuation from the board of directors. Five other directors were likewise set to resign, and no one's entirely sure if Mayer will be sticking around at all. When the news first broke of the sale to Verizon, she said she was eager to stay on. Now, however, there are few reports to suggest if that fervor is still present.

Indeed, there's even some word that the Verizon purchase may not go off at all, at least not without some changes. Two major hacking initiatives hit Yahoo! and its user base hard in the time between Verizon's announced plans and the present, which has prompted Verizon to demand changes in the terms of the sale to reflect the damage those hacks caused.

So in the end, the changes and board departures may not even happen at all if Verizon decides to abandon the purchase plan. Given how the hacks have plunged Yahoo!'s overall reliability and face in the market, Verizon might well want to reconsider that number it originally offered. Considering further that Yahoo!'s planning a name change besides, that doesn't help matters. And what a name change it is, too; reports from those close to the matter say that “Altaba” is a portmanteau of “alternate Alibaba.”

This news comes at an interesting time, given that Alibaba recently announced a potential push into the United States, as CEO Jack Ma had a meeting with president-elect Donald Trump about bringing more into the U.S. Though the exact details on that point are unclear—some suggest it's more smoke and mirrors than actual jobs—the idea that the alternate Alibaba might be firing up at the same time the original is looking for inroads into the U.S. can't be readily ignored.

So the future looks uncertain for Yahoo!, though potentially quite bright. Only time will tell how this all boils down, but there are a lot of earth-shaking possibilities that could be brought into play.




Edited by Alicia Young

Contributing Writer

SHARE THIS ARTICLE
Related Articles

Top 3 Takeaways from Microsoft Ignite

By: Special Guest    10/2/2017

Microsoft Ignite wrapped up last week in Orlando. At the company's big conference dedicated to IT professionals and developers, 25,000 business custom…

Read More

Millennials Want Smart Home Tech More Than Anyone

By: Larry Alton    10/2/2017

Millennials are known for having very specific interests. They also hold a significant level of buying power in certain markets, particularly technolo…

Read More

SpaceX Names Satellite Broadband Service, Works FCC Connect America

By: Doug Mohney    9/29/2017

"Starlink" is the potential title for SpaceX's massive satellite network to deliver high-speed Internet access, reports Florida Today. The company has…

Read More

New Apple iPhone X as Much Hype as Innovation

By: Doug Mohney    9/28/2017

Apple is counting on it with the iPhone X -- the "X" symbolizing the 10th anniversary of the iPhone. Fans of the company are falling all over themselv…

Read More

Alexa and the PBX, Coming Soon

By: Doug Mohney    9/28/2017

This week, Amazon unloaded a ton of Alexa-enabled Echo gizmos, including the Echo Connect. Shipping on December 13, 2017 (just before the holiday seas…

Read More