It’s no news that Yahoo is selling its core business to Verizon, but what’s most interesting at this point is that the internet giant will be renaming the remainder of its business, and in my view, this could be part of the deal it made with Verizon.
This comes as a pretty sad ending for one of the many familiar brands of the internet; one of the first set to make a difference and one of the few who have managed to remain consistent as they build themselves up from scratch. The company, in a public filing with the Securities and Exchange Commission, announced that after it sells the core of its business to Verizon, it plans to name the leftover of the company Altaba Inc.
Due to the publicity and power of the brand, it’s a possibility that Verizon continues using the brand, and that will, no doubt go a long way in helping push its services to consumers.
Up until now, all indications point to the fact that Altaba Inc. will hold on to its 15% ownership of Alibaba, and its 35% stake in Yahoo Japan. So it naturally still has a lot to fight to protect, and this may be one of the best moves it could make at a time like this.