How Yahoo came up with new name Altaba

  • 11/01/2017
How Yahoo came up with new name Altaba

Members of the tech world are scratching their collective heads as part of the internet giant Yahoo gets an unusual new name: "Altaba".

Verizon bought Yahoo for US$4.8 billion in July and will take ownership of its internet business, email service and various apps in late March.

The remaining part of the business will be rebranded as Altaba, acknowledging its ownership in the valuable Chinese internet giant Alibaba.

While the new name sounds like a prisoner in a Harry Potter film, the company has explained the moniker is a combination of the words "alternative" and "Alibaba".

Altaba is certainly unusual – and sounds the same as "Al-Taba", a Pakistan company that makes scissors.  

Yahoo owns about 15 percent of Alibaba, a holding worth about $35 billion.

Yahoo remains the third most visited web property in the United States.