Yahoo is moving forward with the spinoff of its sizable stake in China’s Alibaba Group, and announced a name for it: Aabaco.
Buyers may not be as plentiful for Yelp aYelp’s stock skyrocketed on reports it was considering selling itself, with a host of big-name firms being possible suitors.
The value of Yahoo CEO Marissa Mayer’s pay package surged last year, making her the highest-paid female CEO of Standard & Poors 500 companies.
Yahoo is still struggling to boost revenue nearly three years into CEO Marissa Mayer’s tenure, magnifying concerns that the Internet company holds little value beyond its lucrative Asian investments.
The e-commerce giant’s biggest rival, Amazon, is already based out of Seattle.
Yahoo’s (YHOO) third-quarter earnings soared as the Internet company collected a huge windfall from Alibaba’s recent IPO. Revenue also rose slightly from the previous year, a welcome change for a company that has been posting quarterly declines for most of the past five years.
Alibaba’s stock is surging as the Chinese e-commerce powerhouse’s begins its first day trading as a public company.
The Chinese e-commerce powerhouse is expected to start trading Friday on the NYSE in an IPO that values it at $167.62 billion, bigger than the current market value of Amazon, Cisco, and eBay.
Alibaba Group, China’s leading e-commerce company, is dangling a deal that could turn into one of the biggest IPOs in U.S. history.
Yahoo is still prospering from its lucrative investments in Asia while the Internet company’s listless advertising sales are picking up, if ever so slightly, under CEO Marissa Mayer.