– Yahoo CEO Marissa Mayer announced via Twitter that she gave birth to identical twin girls on Thursday.
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Silicon Valley’s highest-flying female tech boss has given birth to identical twin girls, having said she would be “working throughout” her limited maternity leave.
Yahoo will no longer spin off its $30 billion stake in Chinese e-commerce company Alibaba as investors fear losing billions of dollars in taxes from the transaction, a CNBC report claims.
CEO Marissa Mayer defended her progress turning around Yahoo. Yahoo did not state who would be in charge of each company or what the company names would be.
But official word came on Wednesday that Yahoo’s board has suspended the spinoff of its Small Business unit (YSB) that includes Yahoo Stores and web-hosting services.
He believes a sale happens in the first half of the year so that Yahoo because investors are impatient, the core business isn’t getting better, and the board wants to avoid a proxy war with shareholders.
“In 2016, we will tighten our focus and prioritize investments to drive profitability and long-term growth”, she said. The spinoff had been set up as a tax-free shelter for Yahoo’s 384 million shares in Alibaba.
Mayer, 40, was pregnant when she joined Yahoo as chief executive officer in July 2012.
The uncertainty and reshuffling threaten more distractions at a time when Yahoo is already struggling in digital advertising against rivals such as Google and Facebook.
The chief executive of CBS, Leslie Moonves, said the media company would not pursue Yahoo, speaking at an event earlier this month.
Many investors have argued that Yahoo’s core business is valued near zero or negative on a relative market cap basis, said Pyykkonen, based on Yahoo’s current market cap of $32.3 billion and taking out the valuations on its stake in Alibaba and Yahoo Japan. However, I’m extremely energized by and dedicated to both my family and Yahoo and will do all that is necessary and more to help both thrive. A company spokeswoman confirmed the birth, and said the entire Mayer-Bogue family are “beyond thrilled”.
Yahoo says it will spin off its remaining stake in Alibaba in a move that wards off a potential shareholder rebellion.
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The two companies would each be publicly traded, Yahoo said.
