Yahoo CEO Marissa Mayer Gives Birth to Identical Twin Girls

The Yahoo CEO announced on Thursday that she has given birth to identical twin girls.

“Zack and I are excited to announce that our identical twin girls were born early this morning”, Mayer tweeted, referring to her husband, investor Zachary Bogue.

Mayer is likely to take off about two weeks after the birth – then another week or so in connection with the holidays – before returning to the office, said a person with knowledge of her plans, who asked not to be identified discussing a private matter.

The online media company on Thursday (NZT) said that it is abandoning a plan to spin off its Alibaba stake into a separate company, a strategy announced almost a year ago, and will instead potentially spin off its core business.

That timeline could have lead to traders’ lacklustre response to Yahoo’s news.

Investors had pressured for the move after Yahoo failed to get permission from the IRS for tax relief in selling off the Alibaba stake. She said she will still be working throughout her rest. There remains a lot of conflict at the board and shareholder levels, because Yahoo executives are still talking about a rebirth of sorts to analysts and journalists – although this may well be a tactic to try and fetch a higher price for the core business from possible buyers.

Maynard Webb, chairman of Yahoo’s board of directors, insisted during the conference call that the company’s original plan to spin off its Alibaba stock would not have burdened Yahoo investors with fees – but it was abandoned anyway fearing “the market’s perception of tax risk”.

While analysts estimate that the Web operations could fetch $3 billion to $3.5 billion in an acquisition, Mayer’s goal has been to make it an even more attractive destination for users and advertisers. Yahoo’s stock fell $1.19, or 3.4 percent, to $33.67 in last Wednesday’s afternoon trading. Next month, Mayer will share details of the company’s reorganization. “A separation from our Alibaba stake, via the reverse spin, will provide more transparency into the value of Yahoo’s business”.

At the end of the day Yahoo will still divide into two companies, one with the Alibaba stake and the other with its core Internet operations.

This press release contains forward-looking statements regarding Yahoo’s plan to separate its remaining holdings in Alibaba Group Holding Limited from Yahoo’s operating business.

Levchin was Mayer’s first addition to the board in December 2012 and worked with her briefly at Google after the search giant acquired his startup Slide Inc.in 2010.