Mayer leaves Yahoo !, the company changes its name to Altaba Inc.
Marisa Mayer, last CEO of Yahoo!
Following the closure of the merger between Verizon and Yahoo !, the companies form a new holding called Altaba Inc. Relevant information is reflected in the materials of the US Securities and Exchange Commission. Yahoo! cease to exist as an independent company.
Marisa Meyer will leave the post of CEO after closing the deal. Five more members of the board of directors of the company will leave with her, including Yahoo! David Filo.
The TechCrunch Edition (owned by Verizon approx.) Notesthat Mayer can be used as an “interim” transition manager while the merger will take place. Until the end, her role in the ongoing transaction and the future holding of Altaba Inc. unclear. Yahoo! purchase terms imply compensation for Mayer in the amount of $ 55 million in case she is dismissed from the company.
About the deal between Verizon and Yahoo! It became known in July 2016. The cost of one of the oldest Internet companies amounted to $ 4.8 billion. On the final cost of Yahoo! could have been affected by the hacking of the company’s user database, which directly or indirectly affected between 500 million and 1 billion people. Earlier it was reported that Verizon could ask for a discount from Yahoo! after the publication of information about the hack, but the final cost, except for the previously announced, is not disclosed.
Almost all Yahoo's existing business lines are subject to sale, but the company retained its Asian assets: a 15% stake in Alibaba 35.5% in Yahoo! Japan
The fate of the brand Yahoo! unknown. After the creation of the holding company will cease to exist independently, which is clearly reflected in the document of the US Securities Commission. It is also not known that in the future the unprofitable service Tumblr, which Yahoo! bought in 2013 for $ 1.1 billion.
In 2000, the value of Yahoo! valued at $ 125 billion, but after the arrival of Google and Facebook on the market, as well as a paradigm shift in the Internet and the vector of interests of users, Yahoo! from the leader of the industry moved to the category of “catching up”. The company had a chance to become part of Microsoft for $ 44 billion in 2007, one then-chief executive Jeffrey Young rejected the offer.