The good old Yahoo has now lost its familiarity, for good or for bad. The end of an era as we call it, the once top league internet company has now been sold for Verizon, and has been renamed as ‘Altaba’.
The acquisition happened with a cost of $4.8 billion. Verizon’s crafty strategy to rename the engine similar to the likes of Alibaba and Altavista looks rather predictable. As per the sources, Altaba will operate as an investment company from here on. It is known that Verizon maintains a 15 percent ownership of Alibaba and 35.5 percent stake in Yahoo Japan.
There is also a major change happening with respect to the people. All but five of Altaba’s Board of Directors have now stepped down. What the future of Altaba holds, nobody knows yer. But one thing is for sure, the good old Yahoo will be sorely missed!