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Yahoo renames to Altaba

After Verizon completes its $4.8 billion acquisition of Yahoo’s key assets, the remainder of the company will be renamed to “Altaba”, as discovered in a recent SEC filing. Yahoo CEO Marissa Mayer and several other key members will be resigning from Yahoo’s board at the same time.

Altaba’s main asset moving forward will be their 15% stake in Chinese e-commerce giant Alibaba; a stake that’s more valuable than the internet business Yahoo is selling to Verizon. The name Altaba seems to be a reference to Alibaba, and will update the company’s image to more closely reflect their remaining business.

Altaba will also retain a 35.5% stake in Yahoo Japan, which is a joint venture between the company formally known as Yahoo and SoftBank.

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