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When Jerry and David's Guide to the World Wide Web was renamed to Yahoo! in 1994, Yang and Filo said that "Yet Another Hierarchical Officious Oracle" was a suitable backronym for this name, but they insisted they had selected the name because they liked the word's general definition, as in Gulliver's Travels by Jonathan Swift: "rude, unsophisticated, uncouth."
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The company is headquartered in Manhattan, New York. [15] As of December 2019, the company employed about 10,350 people. [2] [16]A year after the completion of the AOL acquisition, Verizon announced a $4.8 billion deal for Yahoo!'s core Internet business, to invest in the Internet company's search, news, finance, sports, video, emails and Tumblr products. [17]
Yahoo only disclosed the 2014 breach to Verizon two days prior to the Yahoo's September announcement. [15] Verizon CEO Lowell McAdam said he wasn't shocked by the hack, saying "we all live in an internet world, it's not a question of if you're going to get hacked but when you are going to get hacked". [34]
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