Jan 10, 2017

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.

Go deeper

Trump slams Dems as GOP sues California over mail-out ballot plan

California Gov. Gavin Newsom during a February news conference in Sacramento, California. Photo: Justin Sullivan/Getty Images

President Trump accused Democrats of trying "Rig" November's general election as Republican groups filed a lawsuit against California Sunday in an attempt to stop Gov. Gavin Newsom (D) from mailing ballots to all registered voters.

Driving the news: Newsom signed an executive order this month in response to the coronavirus pandemic ensuring that all registered voters in the state receive a mail-in ballot.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 5,383,582 — Total deaths: 344,077 — Total recoveries — 2,158,031Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 1,640,972 — Total deaths: 97,679 — Total recoveries: 366,736 — Total tested: 14,163,195Map.
  3. World: White House announces travel restrictions on Brazil, coronavirus hotspot in Southern Hemisphere Over 100 coronavirus cases in Germany tied to single day of church services — Boris Johnson backs top aide amid reports that he broke U.K. lockdown while exhibiting symptoms.
  4. Public health: Officials are urging Americans to wear masks headed into Memorial Day weekend Report finds "little evidence" coronavirus under control in most statesHurricanes, wildfires, the flu could strain COVID-19 response
  5. Economy: White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election — Public employees brace for layoffs.
  6. Federal government: Trump attacks a Columbia University study that suggests earlier lockdown could have saved 36,000 American lives.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 2 hours ago - Politics & Policy

Federal judge strikes down Florida law requiring felons to pay fines before voting

Gov. Ron DeSantis. Photo: oe Raedle/Getty Images

A federal judge on Sunday ruled that a Florida law requiring convicted felons to pay all court fines and fees before registering to vote is unconstitutional.

Why it matters: The ruling, which will likely be appealed by state Republicans, would clear the way for hundreds of thousands of ex-felons in Florida to register to vote ahead of November's election.