comscore Yahoo and AOL to come together to form a company called 'Oath'
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Yahoo and AOL to come together to form a company called 'Oath'

Yahoo CEO Marissa Mayer will reportedly not be a part of Oath.

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After last year s acquisition of Yahoo s core business by Verizon, along the way, this planned purchase of Yahoo got real complicated. Thanks to the security breaches of gargantuan proportions, Yahoo lost a ton of value. Naturally, 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, calling it Oath. Essentially, Oath will be an umbrella of brands, including Yahoo and some AOL publications under it. The new company is expected to launch this summer after Verizon’s acquisition of Yahoo is completed. Also Read - What Indians searched for in 2021: Bitcoin, Elon Musk, Narendra Modi, and a lot more

Also Read - Yahoo shuts down in China: Know reason why

Tim Armstrong, the head of AOL who helped spearhead the Yahoo acquisition, teased the new company’s launch in a tweet. “Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017,” Armstrong wrote on Twitter. The new name was first reported by Business Insider. Also Read - Your Window PC can now run Android apps

Additionally, a spokeswoman for AOL added more buzzwords by way of explanation: “In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital.”

However, Yahoo CEO Marissa Mayer who had planned to stay to see Yahoo into its next chapter, may not be a part of Oath after all. According to a report in Recode, Mayer will not be continuing with the new company. It will be headed by Armstrong, who is now apparently Oath-in-Chief. Terms of Mayer s departure are still being worked through. Even a report by Equilar last year, claimed that Mayer will not be moving to Verizon Communications post the deal. She will, however, receive a severance pay worth $57 million. “For me personally, I’m planning to stay,” Mayer said last July. “I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter.” ALSO READ: Yahoo CEO Marissa Mayer plans to stay to see Yahoo into its next chapter

In July 2016, Yahoo agreed to sell its core internet operations and land holdings to Verizon Communications for a total of $4.8 billion. After the deal is through, Yahoo shareholders will be left with their investments of $41 billion in the Chinese e-commerce company Alibaba, a small portfolio of patents and a few investments in Yahoo japan.

It is interesting to note that, where in 2016, Yahoo has agreed on a sell out deal worth $4.8 billion. Back in 2000, Yahoo s value was more than $125 billion. When it was started in 1994, Yahoo started off as a website directory, eventually spread out to its search engine, Yahoo! Search, its email service Yahoo! Mail, its question answer forum Yahoo! Answers, among many other services that it offers.

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  • Published Date: April 4, 2017 11:52 AM IST



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