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11	11	Altaba is proud of its rich history that has evolved with the Internet, beginning in 1994 when its founders, Jerry Yang and David Filo, then graduate students at Stanford University, created Jerry and Dave’s Guide to the World Wide Web, a simple directory of websites to help people navigate the Internet. Yahoo was incorporated in 1995 and is a Delaware corporation. The company completed its initial public offering on April 12, 1996, and its stock was listed on the NASDAQ Global Select Market under the symbol “YHOO.”
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13		-= Pending Sale of the Operating Business to Verizon Communications Inc. =
	13	+= Sale of the Operating Business to Verizon Communications Inc. =
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15	15	On July 23, 2016, the company entered into a Stock Purchase Agreement (the “Original Stock Purchase Agreement”) with Verizon Communications Inc. (“Verizon”), pursuant to which Altaba has agreed to sell, and Verizon has agreed to purchase (the “Sale Transaction”), all of the outstanding shares of Yahoo Holdings, Inc., a newly formed wholly-owned subsidiary of Yahoo (“Yahoo Holdings”) (and prior to the sale of Yahoo Holdings, to cause Yahoo Holdings to sell to a foreign subsidiary of Verizon all of the equity interests in a foreign subsidiary of Yahoo Holdings that will hold certain foreign subsidiaries relating to its operating business), which, immediately prior to the consummation of the Sale Transaction, will own its operating business. Under the Original Stock Purchase Agreement, the aggregate consideration to be paid to it by Verizon in connection with the Sale Transaction was $4,825,800,000 in cash, subject to certain adjustments as provided in the Original Stock Purchase Agreement.
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