That, Yahoo was walking on very thin ice was not in doubt, the company (once internet giant) could soon seize to exist anymore. This news came forth following the recent revelation of a massive hack (the biggest in the history) that took place in August 2013, a separate incident from the September hack. It emerges that Yahoo did not disclose the August hack, but instead only revealed the September hack.
Yahoo says that up to a billion users’ accounts were compromised in the August 2013, hack. Something that made Verizon, which was in the process of acquiring the company rethink about the Yahoo acquisition deal. In a statement, Verizon said they will review the Yahoo situation and any “new development before reaching any final conclusions”.
The surfacing of the news that Verizon is rethinking about acquiring Yahoo also revealed new information that should the deal go through. Part of Yahoo will be renamed to Altaba after Verizon has acquired all its emails, websites, mobile apps, and advertisement tools.
The name, Altaba, is meant to reflect well with the Chinese e-commerce leader Alibaba Group and Yahoo Japan, a …read more