What is ‘Oath’ in the world of technology. The swollen ‘Yahoo’ by Verizon has a new name. Its new media division is dubbed Oath and this has been confirmed by AOL head Tim Armstrong through one of his tweets. He wrote, “Billion+Consumers, 20+Brands, Unstoppable Team.”
It is yet to be confirmed whether the Yahoo brand will be used by Verizon in any way. Remember, Yahoo was one of the earliest pioneers in the web world and was once the brightest star in the Silicon Valley, but the sale means end of its independence.
One key person who will not be taking the oath of the new entity will be Yahoo CEO Marissa Mayer. She will not be joining the new company, if believed to a report by Recode.
The tech website writes the beleaguered chief executive is currently working hard to compete the transition smoothly and it is highly important for her to do so, but a source familiar with the matter didn’t mention any possibilities of her being in the team after the transition is completed.
The initial journey of Oath was however not smooth. In July 2016 it was agreed Yahoo will be selling off to Verizon its internet operations including Yahoo search and Yahoo mail services for $4.83 billion.
However, the two earlier massive cyberattacks disclosed then spoiled the bid to great extent. About 500 million user accounts were compromised in 2014 and even bigger in 2013 that was disclosed later. This resulted with scrapping off $350 million from the selling price.
It is to note the company was once worth $100 billion.
Yahoo was founded by Jerry Yang and David Filo more than two decades ago in 1994. It was incorporated a year later and in the 1990s it ruled the internet in terms of web search and web mail. In the late 2000s its decline started and in 2016 Verizon announced interest in acquiring the business.
Joining as CEO in 2012, the former Google executive, Google Employee number twenty, and Google’s first female Engineer Marissa Mayer was seen as a potential savior for Yahoo. She refreshed all of the services for tablets and smartphones believing Yahoo should be at par with the mobile era, but she failed to figure out how to make money. She failed to save the company even with the best of her plans and the best of her efforts with the user interface and with the employees too.
Let’s hope Verizon succeeds.
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