TechCrunch

Marissa Mayer resigning from Yahoo board as remaining company renames itself Altaba

Kate Conger, reporting for TechCrunch;

Despite hiccups, Yahoo’s planned sale to Verizon appears to be moving forward — but some portions of the company will be left behind and renamed Altaba Inc.

Yahoo is hanging on to its 15 percent stake in Alibaba and its 35.5 percent stake in Yahoo Japan, and those assets will survive as an investment company under the new name Altaba Inc., as the rest of Yahoo integrates with Verizon. The assets had previously been nicknamed Remain Co.

Alibaba is currently valued at $233.14 billion, a good reason why Yahoo! Altaba Inc. will still be holding on to it.

It’s sad to see an Internet icon to go out like this.

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