Yahoo announced that board members, including CEO Marissa Mayer and co-founder David Filo, would step down from the board of directors once the company’s core Internet assets are sold to Verizon. What remains of the company after the sale is completed would be renamed Altaba (combining “alternate” and “Alibaba”). “Altaba’s remaining assets include Yahoo’s stake in Alibaba Group Holding Ltd. and Yahoo Japan,” reports The Wall Street Journal. Board member Eric Brandt, former CFO of Broadcom, will become Altaba’s chairman. Mayer “is expected to remain with Yahoo once it becomes part of Verizon.” The deal will cost Verizon about $4.8 billion, unless terms are changed due to two recent high-profile hacks of user data.  Continue reading New Name for Yahoo After Verizon Sale, CEO to Leave Board

At a CES CyberSecurity Forum, journalist/author Wayne Rash led a discussion on the various ways that companies are failing to protect their intellectual property and remain vulnerable to malicious code and ransomware. According to Yubico chief executive Stina Ehrensvard, 70 percent of hacks are related to passwords. “The password is the weak link,” agrees Authentic8 chief executive Scott Petry. “Reusing passwords is a problem. If you use your Yahoo password for other sites, you’re in trouble.” Continue reading Cybersecurity and How to Build Speed Bumps Against Hackers

In September, Yahoo revealed a 2014 security breach that involved 500,000 of its users’ accounts. Now the company has announced an even larger data breach from 2013 involving more than one billion accounts, including those of more than 150,000 government and military employees. “The two attacks are the largest known security breaches of one company’s computer network,” reports The New York Times. “The newly disclosed 2013 attack involved sensitive user information, including names, telephone numbers, dates of birth, encrypted passwords and unencrypted security questions that could be used to reset a password.” Continue reading Yahoo: Second Data Breach Involves 1 Billion User Accounts

AOL is planning to release 5 percent of its staff today, affecting about 500 employees. “CEO Tim Armstrong said that most of the cuts will come in its corporate units, while resources will be shifted more at mobile, video and data offerings going forward,” reports Recode. AOL, which was purchased last year by Verizon, recently added 1,500 employees from its ad deal with Microsoft and acquisition of Millennial Media. AOL’s current structure features its media unit (with properties such as Huffington Post and TechCrunch) and its platforms groups, which includes its advertising tech. “Armstrong said the layoffs are not related to current discussions AOL execs are having with Yahoo counterparts about integration between the two companies,” notes Recode. Continue reading AOL Layoffs Reflect New Emphasis on Mobile, Video and Data

Japan’s SoftBank Group, led by chief exec Masayoshi Son, is partnering with a Saudi sovereign-wealth fund to establish a multibillion-dollar tech investment fund. SoftBank is an ambitious tech investor, as evidenced by its recent deals with China’s Alibaba Group, mobile carrier Sprint and chip designer ARM Holdings. Today, the company “plans to invest at least $25 billion over the next five years through a fund dubbed the SoftBank Vision Fund,” reports The Wall Street Journal. “Saudi Arabia’s Public Investment Fund may contribute an additional $45 billion over the next five years as the fund’s lead partner.” SoftBank is in talks with additional global investors, who could “push the new fund up to $100 billion to become the world’s ‘biggest investor’ in technology over the next decade.” Continue reading SoftBank Signals Major Ambitions with $100 Billion Tech Fund

In response to a classified edict from the National Security Agency or the FBI, Yahoo scanned all of its users’ incoming emails for a specific “set of characters,” keeping the scans and the software system it built to do so a secret. Millions of emails were scanned, but neither federal agency nor Yahoo will say if they found what they were looking for. Experts say this is the first case of a U.S. Internet company agreeing to search all arriving emails, rather than stored messages or a small number of email accounts. Continue reading In a First, Yahoo Secretly Scans All Incoming Emails for Feds

This last Monday, Facebook began gradually introducing a new feature, Marketplace, which, similar to Craigslist, lets users buy and sell items. The app will be first introduced to users in the U.S., Australia, New Zealand and United Kingdom, and will also be available on the desktop in the next few months. Because most Facebook users access the site via mobile phones, Marketplace will provide better location data for matching buyers and sellers than Craigslist. Since the launch, however, Facebook has been dealing with illegal items for sale. Continue reading Facebook Launches Marketplace, Battles Sale of Illegal Items

Six years ago, the Chinese military hacked Google, Yahoo and other technology companies. Google, whose co-founder Sergey Brin vowed “never again,” hired hundreds of security engineers to make good on that promise. Yahoo, under the leadership of Marissa Mayer, however, focused on other problems the ailing company faced and reportedly failed to take more stringent security measures. Now, Yahoo reports another serious breach, undetected for two years, with 500 million users’ credentials stolen. Yahoo and the FBI are investigating. Continue reading With Breach, Yahoo Pays the Price For Skimping on Security

In what could mark the largest-ever theft of personal data, Yahoo has confirmed that more than 500 million of its user accounts were hacked in late 2014. The Internet company is pointing the blame at state-sponsored hackers who reportedly stole names, email addresses, birth dates, phone numbers and encrypted passwords after breaking into the Yahoo network. The company does not believe the hack impacted unprotected passwords or financial data such as payment card or bank account info. The breach was discovered after Yahoo began investigating a claim by hackers who were attempting to sell 280 million usernames and passwords. Continue reading Hackers Steal Data From Half a Billion Yahoo User Accounts

To keep track of the massive amount of data shared on Facebook, the company’s Artificial Intelligence Research (FAIR) lab created fastText, which offers a variety of techniques that make it more accurate and easy to do. Today, Facebook is making fastText open source, available on GitHub, so developers can use its libraries anywhere. Among the techniques fastText uses are “bag of words” and “subword information.” Facebook will use fastText to cut down on “clickbait,” an ever-present irritation on the Internet. Continue reading Facebook Open-Sources fastText Tools That Stifle Clickbait

Hulu is shutting down the free, ad-supported version of its service. The company announced it is transitioning to a subscription-only model following investments in more movies and TV shows. Hulu’s two subscription tiers include an ad-free plan for $11.99 per month and a limited-commercial offering for $7.99 per month. Hulu is also expanding its distribution deal with Yahoo by partnering on Yahoo View, a new ad-supported streaming site that will carry the five most recent episodes of series from Hulu co-owners ABC, FOX and NBC, eight days after their original broadcast. Continue reading Hulu Winds Down its Free Service, Partners on Yahoo TV Site

Recently, the chief executives of Facebook, Google and Twitter all had their email accounts hacked. They regained control of their accounts within hours but many others — especially those who re-use passwords — haven’t been so lucky. Hackers can use software that gleans new passwords from old ones, and nearly two billion old passwords are for sale for as little as $2 on LeakedSource, a database operated anonymously. The pattern of re-using corporate passwords on LinkedIn and other sites is a growing concern. Continue reading Re-Used Passwords a Major Culprit in the Rise of Data Abuse

Following its $4.8 billion acquisition of Yahoo, Verizon announced it is purchasing Dublin-based telematics company Fleetmatics for $2.4 billion in cash. Fleetmatics will become part of the subsidiary Verizon Telematics, which primarily handles fleet management, mobile enterprise solutions and Internet of Things initiatives. Verizon’s AOL and Yahoo purchases will help build its media and advertising businesses, while the Fleetmatics acquisition points to the company’s enterprise mobility ambitions. The deal is expected to close by Q4 2016. Continue reading Verizon to Ramp Up Telematics with Purchase of Fleetmatics

Facebook added 220 million monthly users in the past year, for a current total user base of 1.71 billion people. More than 90 percent of those users access Facebook via their mobile devices, where Facebook reaped 84 percent of its $6.2 billion in advertising revenue in the last quarter. The company saw 80 percent growth in Q2 from mobile ads, from an overall 59 percent growth rate in advertising. WhatsApp and Messenger, both of which have 1 billion users, are part of the company’s next move into video. Continue reading Facebook Touts Major Growth, Driven by Mobile Advertising

Verizon announced it would acquire Yahoo’s core operating business in a $4.83 billion cash deal expected to close in the first quarter of next year. Yahoo will join Verizon’s growing stable of digital properties, including AOL, which it purchased last May for $4.4 billion. The deal should help Verizon ramp up its mobile efforts and combine AOL’s ad tech with Yahoo’s online sites and services. AOL chief Tim Armstrong and Verizon exec Marni Walden spearheaded the deal. “This culminates a rigorous, thorough process over many months, and yields a great outcome for the company,” wrote Yahoo CEO Marissa Mayer in a letter to her employees. Continue reading The Wait Is Over: Verizon Will Acquire Yahoo for $4.83 Billion