Here’s what you need to know today.

1. After the $4.8 billion Verizon deal, the remains of Yahoo will rename itself ‘Altaba’

Basically, Verizon is paying $4.8 billion solely for Yahoo’s core internet business, leaving behind Yahoo’s 15% of Chinese retail giant Alibaba and a part of Yahoo Japan, which is a joint venture with Softbank. Those assets will continue to exist in a separate company that will now operate under the catchy Altaba name.

Yahoo’s name change represents a sad ending to one of the most familiar names on the internet.

Confused? Here’s what’s happening: Altaba will still be Yahoo. It will be a zombie company comprising of a bunch of assets and few, if any, tasks. (via Marketwatch). It has also been announced that CEO Marissa Mayer is resigning from Yahoo’s board of directors.

What to think about: What could Yahoo’s fate spell for old school portal businesses like Sanook in Thailand?

Read the rest of the story here.

 

2. In other news, Jack Ma has met with The Donald

The meeting comes as a bit of a surprise because Donald Trump has been pretty blustery when it comes to criticizing China and Chinese companies. On his campaign website, he called on the US to go after Chinese companies for IP violations.

The pair reportedly discussed Alibaba’s plans to bring more jobs to the United States.

Surprising? Yes. But then again, you never really know what to expect when Donald Trump is involved.

Read the rest of the story here.

 

3. New $1.5b fund fuels Asia’s fintech boom

Startups working on new financial products, a sector called fintech, now have an extra US$1.45 billion on their side after China last week launched the Asia Fintech FOF.

The new Asia Fintech FOF will pour its riches into funds looking at startups working on mobile payments, blockchain technology, artificial intelligence, wealth management, and consumer finance. The Asian fund could benefit Southeast Asia’s fintech startups.

Read the rest of the story here.

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