is a non-diversified, closed-end managementinvestment companybased inNew York Citythat was formed from the remains ofYahoo! Inc.afterVerizonacquired YahoosInternetbusiness.The company that remained after the purchase changed its name to Altaba Inc. on June 16, 2017.Verizon completed its acquisition of Yahoo!s core internet business on June 13, 2017, and put the assets under a new subsidiary named Yahoo! Holdings within its newly created division,Oath.The only Yahoo!-branded interest held by Altaba was its stake in the joint ventureYahoo! Japanbut this stake has since been sold toSoftBank Group.

Altaba was founded in January 1994 byJerry YangandDavid Filo, who were Electrical Engineering graduate students when they created a website named Jerry and Davids Guide to the World Wide Web. The Guide was a directory of other websites, organized in a hierarchy, as opposed to a searchable index of pages. In April 1994, Jerry and Davids Guide to the World Wide Web was renamed Yahoo!.1011The word YAHOO is abackronymforYet AnotherHierarchically Organized Oracle12or Yet Another Hierarchical Officious Oracle.13The m domain was created on January 18, 1995.14

Yahoo! grew rapidly throughout the 1990s and diversified into aweb portal, followed by numerous high-profile acquisitions. The companys stock price skyrocketed during thedot-com bubbleand closed at an all-time high of US$118.75 in 2000;15however, after the dot-com bubble burst, it reached an all-time low of US$8.11 in 2001.16Yahoo! formally rejected an acquisition bid from theMicrosoft Corporationin 2008.17In early 2012, the largest layoff in Yahoo!s history was completed and 2,000 employees (14 percent of the workforce) lost their jobs.18

Carol Bartzreplaced co-founder Jerry Yang asCEOin January 2009,19but was fired by the board of directors in September 2011;Tim Morsewas appointed as interim CEO following Bartzs departure.20FormerPayPalpresidentScott Thompsonbecame CEO in January 2012 and after he resigned was replaced byRoss Levinsohnas the companys interim CEO on May 13, 2012. On July 16, former Google executiveMarissa Mayer, became the CEO of the company.21

The media reported on Yahoo!s interest in the video streaming site Hulu on May 26, 2013. Under Mayers leadership, Yahoo!s bid is worth between US$600 and $800 million, as a variety of options that consist of different circumstances were put forward by the company.22As of May 28, 2013, Yahoo!s videos attract 45 million unique visitors a month, while Hulu has 24 million visitorsthe combination of the two audiences can place Yahoo! in the second-most popular position after Google and its subsidiaryYouTube.23

Data collated by comScore during July 2013 revealed that more people in the U.S. visited Yahoo! websites during the month in comparison to Google websitesthe occasion was the first time that Yahoo! outperformed Google since 2011. The data did not incorporate visit statistics for the Yahoo!-owned Tumblr website or mobile phone usage.24

On September 22, 2016, Yahoo discloseda data breachin whichhackersstole information associated with at least 500 million user accounts in late 2014.25According to theBBC, this was the largest technicalbreachreported to date.26Specific details of material taken include names, email addresses, telephone numbers, encrypted or unencrypted security questions and answers, dates of birth, and.27The breach used manufacturedweb cookiesto falsify login credentials, allowing hackers to gain access to any account without a password.282930On December 14, 2016a separate data breach, occurring earlier around August 2013 was reported. This breach affected over 1 billion user accounts and is again considered the largest discovered in thehistory of the Internet.31

On June 13, 2017, following the departure ofMarissa MayerThomas J. McInerneywas appointed chairman and CEO of Yahoo! Inc.32

On June 16, 2017, the company that remained after Verizon Communications purchased the core Internet businesses of Yahoo! Inc. was renamedAltaba Inc.The new company, listed by theSecurities and Exchange Commissionas a non-diversified,closed-end management investment company,633immediately began trading onNASDAQunder the ticker symbolAABA.34

In September 2018, Altaba settled three lawsuits relating to Yahoos data breaches for $47 million.35

On September 17, 2018, Altaba announced the sale of their stake in Yahoo Japan Corporation for $4.3 billion.36On the same day, Altaba announced a $5.75 billion repurchase program.37

On April 3, 2019, Altaba announced in a press release that it would sell its stake inAlibaba Groupand shut down.38The company plans on shutting down in the fourth quarter of 2019.39

Altaba ownsExcalibur IP, apatentcompany; controls a significant minority interest inAlibaba Group(16.3%);40and maintains investments inHortonworksGomajiEnvestnetRimage CorporationSeatGeekProtagenic TherapeuticsEastman Kodak Company, andPaperless Post.41The Funds external investment advisors are BlackRock Advisors, LLC and Morgan Stanley Smith Barney LLC.

The company has divested itself of all holdings inSnap Inc.(the owner of Snapchat)42andYahoo! Japan.43

Fuscaldo, Donna (June 21, 2017).What Is Altaba Anyway?.

Yahoo Completes Sale Of Operating Business; Company To Be Re-Named Altaba And Register As Investment June 13, 2017

Natalie Walters (January 10, 2017).Yahoo! Set to Thrive Under New Altaba Name Thanks to Alibaba

Altaba Announces 2017 Annual Meeting of Stockholders.

Business Search – Business Entities – Business Programs – California Secretary of State.

Kharpal, Arjun (June 13, 2017).Verizon completes acquisition of Yahoo as Marissa Mayer resigns.

Yahoo Completes Sale Of Operating Business; Company To Be Re-Named Altaba And Register As Investment June 13, 2017

Chin, Kimberly (September 17, 2018).Altaba Sells Remaining Yahoo Japan Shares.

Ethan Trex.Jerry and Davids Guide to the World Wide Web becomes Yahoo!

. Archived fromthe originalon February 2, 2012

Gaffin, Adam (September 11, 1995).Hello, Is Anyone Out There?. Network World.

The History of Yahoo! How It All Started…Yahoo! Media Relations. 2005. Archived fromthe originalon April 2, 2013

WHOIS information for:

Simon Holland (July 2012).Yahoo: An 18-year timeline of events.

. PerformanceIN. Archived fromthe originalon August 10, 2017

. Hoboken, New Jersey:John Wiley & Sons. p.199.ISBN

Shortly after the 9/11 attacks, on September 26, 2001, Yahoo!s stock hit its all-time low of $8.11.

Yahoo rejects Microsoft approachBBC News Online. February 11, 2008

AP (September 16, 2011).Tim Morse, Interim Yahoo CEO, Gets 25 Percent Raise To $750,000.

ANDREW ROSS SORKIN; EVELYN M. RUSLI (July 16, 2012).A Yahoo Search Calls Up a Chief From Google.

Kara Swisher (May 26, 2013).Yahoos Bid for Hulu in $600M to $800M Range Even as It Preps Other Big Deals in Mobile and Communications.

Christopher Mims (May 28, 2013).An $800 million bid for Hulu is safe, boring, and exactly the right move for Yahoo.

Juliet Garside (August 23, 2013).Google overtaken by Yahoo! in US website visitors for first time in two years.

Yahoo Says Hackers Stole Data on 500 Million Users in 2014. New York Times. September 22, 2016

Yahoo state hackers stole data from 500 million users. BBC. September 23, 2016

Yahoo state hackers stole data from 500 million usersBBC News. September 23, 2016

Yahoo discovered hack leading to major data breach two years before it was disclosed. The Washington Post

Newman, Lily Hay (December 14, 2016).Hack Brief: Hackers Breach a Billion Yahoo Accounts. A Billion.

Goel, Vindu (December 14, 2016).Yahoo Says 1 Billion User Accounts Were Hacked.

Yahoo to Become Alibaba Alter Ego with Name Change – Caixin Global.

Altaba, formerly Yahoo, starts trading on NasdaqCNBC. June 19, 2017

Altaba to settle lawsuits relating to Yahoo data breach for $47 million.

Chin, Kimberly (September 17, 2018).Altaba Sells Remaining Yahoo Japan Shares.

Pan, Kwan Yuk (September 17, 2018).Altaba announces new $5.75bn share buyback programme.

Altaba Announces Board Approval of Plan of Complete Liquidation and Dissolution.

Russell, Jon (April 3, 2019).Yahoo spin-out Altaba is selling its entire Alibaba stake and closing down.

Paul R. La Monica (June 19, 2017).Verizon and all new Oath Inc. Story of Yahoo, AOL and AltabaCNN Money

Holdings. Altaba. Archived fromthe originalon July 31, 2017

The Company Formerly Known as Yahoo Just Gave Up on Snapchat.

Publicly traded companies based in New York City

This page was last edited on 27 May 2019, at 02:16

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