Yahoo Casts Off E-Commerce Business
Yahoo is casting off its e-commerce business, including Yahoo Stores, later this year when it spins off its Yahoo Small Business (YSB) unit. YSB will move over to a new public company, currently referred to as "SpinCo," along with Yahoo's approximately 384 million shares of Alibaba. Amer Akhtar, head of YSB, announced the news on the unit's blog. "With this new opportunity, we can invest even more in our platform and chart our own course," he said. However, Yahoo had just launched a "next generation" Yahoo Stores platform in August under Akhtar's predecessor, Amit Kumar.