Verizon Communications Inc. today completed its acquisition of the operating business of Yahoo! Inc. Verizon has combined these assets with its existing AOL business to create a new subsidiary, Oath, a diverse house of more than 50 media and technology brands that engages more than a billion people around the world. The Oath portfolio includes HuffPost, Yahoo Sports, AOL.com, MAKERS, Tumblr, BUILD Studios, Yahoo Finance, Yahoo Mail and more, with a mission to build brands people love. Marni Walden, Verizon president of Media and Telematics, said in a statement, “The close of this transaction represents a critical step in growing Click Here to Read more
Well, it seems that Verizon is sick of both AOL and Yahoo! as it finalizes the purchase of Yahoo! Thanks to security breachs of gargantuan proportions, Yahoo has lost a ton of value — and the company was struggling even when Verizon announced its intentions to buy the former internet juggernaut. Part of the value lost is in the Yahoo brand, which Verizon apparently considers toxic at this point. To that end, Verizon is changing the name of the combined Yahoo and AOL company. Business Insider first reoprted that”Oath” will be the new name of the company. Minutes after we Click Here to Read more
“U.S. authorities are investigating whether Yahoo Inc.’s two massive data breaches should have been reported sooner to investors, according to people familiar with the matter, in what could prove to be a major test in defining when a company is required to disclose a hack,” Runa Viswanatha and Robert McMillan report for The Wall Street Journal. “The Securities and Exchange Commission has opened an investigation, and in December issued requests for documents, as it looks into whether the tech company’s disclosures about the cyberattacks complied with civil securities laws, the people said,” Viswanatha and McMillan report. “The SEC requires companies Click Here to Read more
Marissa Mayer will resign from Yahoo’s board of directors and the company itself will be renamed Altaba Inc., according to documents filed with the SEC today. The documents state that following the close of Yahoo’s $4.8 billion sale to Verizon—which, by the way, is still up in the air—Mayer and several other members of the board will resign. The filing also take pains to emphasize that the departures are not “due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.” Besides Mayer, David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw, and Maynard Webb all plan to resign Click Here to Read more
(CNN/Money): Yahoo (YHOO) said there’s “no assurance” that Verizon will actually go through with the deal, according to its latest filing with the Securities and Exchange Commission. The filing also revealed that it’s “facing investigations by a number of federal, state, and foreign governmental officials and agencies” over the hack — and these could result in “potential fines.” Verizon defended the deal in late October at a Wall Street Journal Digital Conference, arguing that it “absolutely” still makes sense. Verizon offered to buy Yahoo’s core internet assets in July. But two months later, Yahoo shocked its potential buyer with news that “at least 500 million” Yahoo user accounts had Click Here to Read more
Do you think that you’re not affected by the Yahoo! security breech? Think again. Just because you may not use e-mail via Yahoo! doesn’t mean that your information may not be affected. Yahoo has several other web sites under the company’s umbrella such as Yahoo! Fantasy Sports, use Ficklr, Blog on Tumblr, or any other services that Yahoo! maybe affiliated with. Per Thorsheim, a global cybersecurity expert based in Norway, told CNN/Money: There are lots of people, millions of people, who don’t understand they have a Yahoo account. The hack was discovered last Thursday and was allegedly committed by a “state-sponsored actor” on Click Here to Read more
Mid Thursday, Yahoo! confirmed that about 500 million user accounts have been stolen from its network in what maybe the largest data breech ever. (CNN/Money) The company said it believes a “state-sponsored actor” was behind the data breach, meaning an individual acting on behalf of a government. The breach is said to have occurred in late 2014. “The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers,” Yahoo said in a statement. Yahoo urges users to change their password and Click Here to Read more
Merissa Mayer’s 4 year as CEO of Yahoo may turn out to be a big payday for the outgoing executive – that is, IF she steps down. If she steps down, Yahoo! Will still owe her about $57 million in severance after Verizon takes the rings of the company. As an added bonus for screwing up the company, she would still be owed $162 million in salary and stock awards that Mayer received over the course of her tenure. All told, she could exit Yahoo with around $219 million in the bank. However, (as we all know) she can only receive that Click Here to Read more
The once great Internet search engine is up for sale. Even though Melissa Mayer would like to see the sale though, investors are growing very impatient with her and she maybe gone within weeks or even days. The company has given interested parties until April 18th to make an offer. The company is expected to get somewhere in the ballpark of $8 Billion for its core Internet business. Who’s interested? Companies such as TIME, Inc., Daily Mail, Google, Verizon (which currently owns AOL) and Microsoft have expressed interest. What happens after the 18th? Yahoo! could either except all or none of Click Here to Read more
Re/code reports that Yahoo! CEO Marissa Mayer is pushing Apple for the company to make Yahoo! its default search engine in iOS and its other related platforms, currently being head by Google and Bing. According to the report, Mayer has built what she hopes will be a convincing argument for the company. Currently, Yahoo! powers iOS’s Weather and Stocks apps, as well as a few Siri apps such as Sports and others.
“Yahoo! Inc. is shuttering a few of its online services, including a coupon site and a local events calendar, as Chief Executive Officer Marissa Mayer sharpens the Web portal’s focus on applications for mobile devices,” Douglas MacMillan reports for Bloomberg. “Yahoo! Deals and Upcoming will shut down April 30, the Sunnyvale, California-based company said in a blog post today. Yahoo! Kids will close the same day, along with its SMS update service and older versions of its e-mail and messenger apps.” “The company wants to trim its 60 to 75 products to about a dozen to offer popular mobile apps, Mayer said at Click Here to Read more
The Wall Street Journal is reporting that both Apple and Yahoo! have been in discussions on how the two companies can work together more closely other then providing weather reports for iOS devices. WSJ says that the discussions have included Yahoo! providing built in search results for the device as well as other areas. Discussions have been ongoing for months.
New York (CNN/Money) – Yahoo CEO Marissa Mayer received a $1.12 million cash bonus for her half-year on the job in 2012 and restricted stock worth another $13.3 million, according to company filings. Filings late Wednesday also disclosed that Mayer, who joined the Web portal company in July, will get a $1 million base salary this year, unchanged from her 2012 salary level, and a cash bonus of up to $2 million this year. The 585,000 shares of stock Mayer received in grants was on top of 2.1 million shares and options, worth $47.2 million at Wednesday’s closing price, that she Click Here to Read more
Cross posted from BlackBerryScoop: Phones Review – Marissa Mayer is only 37. In that brief time, she’s worked on some top products for Google, having joined the company as the 20th employee in 1999. She’s a programmer by trade, having graduated from Stanford University with an M.S. in Computer Science – specialising in Artificial Intelligence – and is partly responsible for the look and feel of the Google homepage (the seventh most-visited page on the web), Google Images, Google News and Gmail. An impressive CV, by anyone’s standards. She’s now CEO of Yahoo – the youngest CEO in theFortune 500 – and hopes are high that she’ll be able to turn the company’s 47-percent share price drop into something Click Here to Read more
AOL and Yahoo, fallen giants of the first age of the internet, are reportedly discussing a merger. The news comes after Yahoo axed chief executive Carol Bartz earlier this week. AOL’s chief executive Tim Armstrong has approached Yahoo’s advisers to gauge its interest in combining the companies, Bloomberg reported. Armstrong has reportedly approached investment bankers from Allen & Co. who are working with Yahoo. Yahoo announced this week that it was conducting “a comprehensive strategic review” after the decision to fire Bartz. She had been brought in to turn the company around but, while she cut costs by firing staff, she failed Click Here to Read more