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Yahoo has announced they will officially be changing their name upon Verizon’s acquisition of the company in the next upcoming months.
12 years ago, Microsoft had offered to buy Yahoo for over $45 billion, but they turned it down…and now have to accept a $5 billion buyout from Verizon after a failure to turn the company around in recent years. CEO Marissa Mayer will exit the company’s board, as will Yahoo co-founder David Filo. But, on to this name change…
Yahoo will soon become “Altaba,” though they have not yet explained why. Motherboard notes that the name is phonetically similar to “Alibaba,” however, which is the name of the Chinese internet giant that is part-owned by Yahoo.