“Zack and I are excited to announce that our identical twin girls were born early this morning”, Mayer tweeted, referring to her husband, investor Zachary Bogue.
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Yahoo blocks email users if they use ad-blockers* What’s next for Yahoo?
When Mayer announced in August that she was expecting twins, she said she planned on taking a similar tactic.
In the event of a spin off, May sees Yahoo’s fair value at $40 and values the company at $45 in the event of a sale.
Mayer’s news comes at a tricky time for Yahoo.
Yahoo shares gained more than 2 percent in premarket trading.
Yahoo has abandoned a plan to spin off its stake in Chinese e-commerce giant Alibaba. In fact, Verizon Communication’s CEO, Lowell McAdam, said at a technology conference on Tuesday that it can look into buying some of Yahoo’s properties as these would complement its AOL properties, which it bought for $4.4 billion this year.
The deal, which would require shareholder approval, could take more than a year to complete, Yahoo said.
There is no determination by the board to sell the company or any part of it. We believe the business remains very undervalued and we’re focused on realising that value. As she puts it succinctly, Yahoo has now officially become a “tax trick and not a product company”. Last year, Max Schireson, CEO of database company MongoDB, said he was stepping down to spend time with his children.
Chief Executive Marissa Mayer has been struggling since long in order to keep the financially pressured company in shape but faced multiple failures with minimal results. Her announcement sparked criticism that she was setting a bad example for working mothers at Yahoo. In the backdrop, Yahoo also has had to ward off a hostile takeover bid from Microsoft Corp. and quell shareholder uprisings spearheaded by activist investors Carl Icahn and Daniel Loeb.
That timeline could have lead to traders’ lacklustre response to Yahoo’s news.
The handling of the Alibaba stake is crucial to Yahoo shareholders because of the money involved.
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The new publicly traded company will house Yahoo’s Internet business and its 35% stake in Yahoo Japan, worth about $8.5 billion at current exchange rates.
