Altaba

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Altaba Inc.
Formerly called
Yahoo! (1995–2017)
Public
Traded asNASDAQAABA
IndustryInvestment company
FoundedMarch 2, 1995; 26 years ago (1995-03-02)
HeadquartersNew York City, New York, U.S., U.S.
Key people
Thomas J. McInerney (President and CEO)
SubsidiariesExcalibur IP, LLC
Websitealtaba.com

Altaba is an investment company based in New York City,[1] that resulted from Verizon's acquisition of Yahoo! Inc's internet business.[2] The company that remained after the purchase changed its name to Altaba Inc. on June 16, 2017. [3][4][5] Verizon completed the acquisition on June 13, 2017. Verizon announced that Yahoo! Inc's Internet assets would be combined under a new subsidiary, Oath.[6]

History[edit | edit source]

On June 16, 2017, the company that remained after Verizon Communications purchased the internet businesses of Yahoo! Inc. was renamed Altaba Inc. On the United States Securities and Exchange Commission's website, they listed the new company as a "non-diversified, closed-end management investment company."[7]

The Yahoo Inc. ticker symbol YHOO was retired in favor of AABA on June 19, 2017.[8]

On June 13, Thomas J. McInerney became CEO of the former Yahoo Inc., after the departure of then-CEO Marissa Mayer. He was also a board member and chairman of the company.[9] June 19, the Altaba website listed McInerney as the first CEO of new iteration of the company, Altaba Inc.

Assets[edit | edit source]

Altaba owns Excalibur IP, LLC, a patent company, controls a significant interest in Yahoo! Japan and Alibaba Group,[10] and also owns minority investments in Hortonworks, Inc., Snap Inc., Gomaji Corp., Ltd, Envestnet, Inc., Qumu Corporation, SeatGeek, Inc., Protagenic Therapeutics, Inc., Eastman Kodak Company, and Paperless Inc..[11]

References[edit | edit source]

  1. "Yahoo Completes Sale Of Operating Business; Company To Be Re-Named Altaba And Register As Investment Company". TheStreet.com. June 13, 2017. Retrieved June 28, 2017. 
  2. Natalie Walters (January 10, 2017). "Yahoo! Set to Thrive Under New Altaba Name Thanks to Alibaba Stake". TheStreet.com. Retrieved June 28, 2017. 
  3. "Altaba Announces 2017 Annual Meeting of Stockholders". businesswire.com. June 16, 2017. Retrieved June 16, 2017. 
  4. "Business Search - Business Entities - Business Programs - California Secretary of State". businesssearch.sos.ca.gov. June 16, 2017. Retrieved June 16, 2017. 
  5. "8-K". sec.gov. June 16, 2017. Retrieved June 16, 2017. 
  6. Kharpal, Arjun (June 13, 2017). "Verizon completes acquisition of Yahoo as Marissa Mayer resigns". CNBC. Retrieved June 13, 2017. 
  7. "8-K". sec.gov. June 16, 2017. Retrieved June 17, 2017. 
  8. "Altaba, formerly Yahoo, starts trading on Nasdaq". CNBC. June 19, 2017. Retrieved June 28, 2017. 
  9. "Altaba, Inc.". altaba.com. June 19, 2017. Retrieved June 19, 2017. 
  10. Paul R. La Monica (June 19, 2017). "So long, Yahoo. Hello ... Altaba?". CNN Money. Retrieved June 28, 2017. 
  11. "Holdings". Altaba. Retrieved June 28, 2017. 

External links[edit | edit source]