Jan 10, 2017 - Technology

Hot in Silicon Valley: Altaba and Snapchat

Frank Franklin II / AP

1. Yahoo's ghost will be called "Altaba"

Yahoo is already preparing for its next life as a holding company. Altaba is a combination of "alternative" and "Alibaba," the Chinese e-commerce company in which Yahoo has a 15% stake.

Why it matters: Yahoo was once an iconic Silicon Valley internet giant. Now it's little more than a funny name and a pile of stock in two Asian companies.

What's next: The Verizon sale still isn't a done deal. Yahoo recently admitted to two massive security breaches, and Verizon is already rumored to be asking for a discount. CEO Marissa Mayer will step down from the board once the sale is final.

2. Snapchat plants a flag in the U.K.

The messaging app's parent company has picked its London office as its international headquarters, an interesting move as the country is in the process of leaving the European Union. Snap Inc. says it picked London because of its strong advertising and media industry, according to Reuters.

Roughly one-third of Snapchat's 150 million daily active users are in Europe, and 10 million are in the U.K.

What's next: Snapchat's IPO is hotly anticipated by investors. It will be the first of a new generation of internet companies, and the first from a social media company since Twitter, whose future as a public company is now looking uncertain.

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