Yahoo to rebrand as Altaba as per the reports after the deal with Verizon is completed. The iconic name of Yahoo will be no longer existent once the deal is over. The Yahoo Web Services were brought by Verizon for $4.8 Billion last year. The deal is yet to be executed but the company has already decided the fate.
Marissa Mayer, The CEO of the company would be resigning and Eric Brandit is expected to take over the reign. The co-founder of the company David Filo will also not be a part of the 5 members board of Albata Inc. The reports suggest that there are no differences with the CEO Marissa Mayer but she wants to go ahead with her resignation.
Yahoo or Altaba has 15% stake at the Chinese e-commerce Alibaba and also has a stake in Yahoo Japan. The new look Altaba Inc would work more or less as an Investment Company. On the other side, the Yahoo Mail, Messenger, and other web services will be run by the Verizon after the deal.
Yahoo was once the leading Search Engine and the web service company of the world. However, after the Google came, it failed to capitalize the market and went down. Marissa Mayer was hired from Google but even she could not save Yahoo from becoming non-existent.
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