Altaba

Altaba Inc.
Formerly
 Yahoo! (1995–2017)
Public
Traded as NASDAQ: AABA
Industry Investment company
Founded March 2, 1995 (1995-03-02)
Headquarters New York City, New York, U.S.
Key people
 Thomas J. McInerney (President and CEO)
Subsidiaries Excalibur IP, LLC[1]
Website altaba.com

Altaba Inc. is an investment company based in New York City[2] that resulted from Verizon's acquisition of Yahoo! Inc's Internet business.[3] The company that remained after the purchase changed its name to Altaba Inc. on June 16, 2017.[4][5][6] Verizon completed its acquisition on June 13, 2017, and put the assets under a new subsidiary named Yahoo Holdings within its newly-created division, Oath.[7] The only 'Yahoo!' branded interest in the hands of Altaba was its stake in the joint venture Yahoo! Japan.

History

On June 16, 2017, the company that remained after Verizon Communications purchased the Internet businesses of Yahoo! Inc. was renamed Altaba Inc. The United States Securities and Exchange Commission's listed the new company as a "non-diversified, closed-end management investment company on their website."[6][8]

The ticker symbol YHOO was changed to AABA on June 19, 2017.[9]

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.[10] June 19, the Altaba website listed McInerney as the first CEO of new iteration of the company, Altaba Inc.

In September 2017, Altaba sold all 4.6 million common shares of Snap Inc. for $69.3 million.[11][12] [13] Altaba also sold 1,363,531,700 common shares of Yahoo! Japan for $4.3 billion. [14]


Assets

Altaba owns Excalibur IP, LLC, a patent company; controls a significant minority interest in Alibaba Group (16.3%);[15] and maintains investments in Hortonworks, Inc., Gomaji Corp., Ltd, Envestnet, Inc., Qumu Corporation, SeatGeek, Inc., Protagenic Therapeutics, Inc., Eastman Kodak Company, and Paperless Inc.[16]

References

  1. ↑ Fuscaldo, Donna (June 21, 2017). "What Is Altaba Anyway?".
  2. ↑ "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.
  3. ↑ Natalie Walters (January 10, 2017). "Yahoo! Set to Thrive Under New Altaba Name Thanks to Alibaba Stake". TheStreet.com. Retrieved June 28, 2017.
  4. ↑ "Altaba Announces 2017 Annual Meeting of Stockholders". businesswire.com. June 16, 2017. Retrieved June 16, 2017.
  5. ↑ "Business Search - Business Entities - Business Programs - California Secretary of State". businesssearch.sos.ca.gov. June 16, 2017. Retrieved June 16, 2017.
  6. 1 2 "8-K". sec.gov. June 16, 2017. Retrieved June 16, 2017.
  7. ↑ Kharpal, Arjun (June 13, 2017). "Verizon completes acquisition of Yahoo as Marissa Mayer resigns". CNBC. Retrieved June 13, 2017.
  8. ↑ "Yahoo to Become Alibaba Alter Ego with Name Change - Caixin Global". caixinglobal.com. Retrieved 2018-08-27.
  9. ↑ "Altaba, formerly Yahoo, starts trading on Nasdaq". CNBC. June 19, 2017. Retrieved June 28, 2017.
  10. ↑ "Altaba, Inc". altaba.com. June 19, 2017. Retrieved June 19, 2017.
  11. ↑ "Altaba - Investor Relations". altaba.com. Retrieved 2018-02-22.
  12. ↑ "The Company Formerly Known as Yahoo Just Gave Up on Snapchat". Fortune. Retrieved 2018-02-22.
  13. ↑ "Yahoo to Become Alibaba Alter Ego with Name Change". caixinglobal.com.
  14. ↑ "SEC Filing | Altaba Inc". www.altaba.com.
  15. ↑ Paul R. La Monica (June 19, 2017). "Verizon and all new Oath Inc. Story of Yahoo, AOL and Altaba". CNN Money. Retrieved June 28, 2017.
  16. ↑ "Holdings". Altaba. Archived from the original on July 31, 2017. Retrieved June 28, 2017.
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