What’s Left of Yahoo to Become Altaba… Maybe

If Verizon does acquire Yahoo’s internet business – which is now uncertain after over one billion Yahoo user accounts in two separate hacking episodes – Yahoo has plans for what will remain.

In a regulatory filing on Monday, 09 January 2017,  that when that deal closed, it would rename itself “Altaba.”

It was also disclosed in the Monday filing that half of the company’s current board members — including Marissa Mayer, its chief executive — would step down.

Why in the world name the remains of  Yahoo, Altaba? About all that Yahoo would have left if its internet business were sold to Verizon would be its 15 percent stake in the Chinese e-commerce titan,  Alibaba. Altaba is apparently a play on the world Alibaba. Altaba would would hold a 35.5 percent stake in Yahoo Japan, although a Yahoo spokeswoman declined to comment.  Still, Altaba is still a very strange name, and not likely to become the household word that Yahoo did.  It’s interesting to note that Al-Taba is a manufacturer of scissors based in Pakistan.

Stepping down from the Yahoo board of directors, along with Marissa Mayer, would be Yahoo’s chairman, Maynard Webb; and David Filo, a Yahoo founder. Mr. Webb would become chairman emeritus of Altaba.

All of these changes depend on whether Yahoo can close the deal with Verizon. In light of Yahoo’s security and image issue after the disclosure of two hacking episodes, Verizon may pull the plug on the deal, or may make a  much lower offer than the agreed-upon $4.8 billion.

Marni Walden, Verizon’s president of product innovation and new businesses, said last week of the deal’s fate, “I can’t sit here today and say with confidence one way or another because we still don’t know.”

But Yahoo itself will not become Altaba if the Verizon deal closes. Yahoo will still be Yahoo; the remains of Yahoo will be Altaba.

We’ll all have to wait and see what Verizon decides to do.