Google is now under a new company called Alphabet
Yes, you’ve read that right. Internet search giant, Google, is now under a new company called Alphabet Inc.
Alphabet is a technology holding company headed by Google’s founders – Larry Page and Sergey Brin. It is a collection of companies with Google as the largest subsidiary. Google will still be the umbrella company for search, ads, maps, apps, YouTube and Android and the related technical infrastructure. However, other companies like Nest, Calico, Fiber, Google X, Google Capital, Google Ventures, and other incubator projects will now be managed separately from Google.
As part of the restructure, Sundar Pichai will now be the CEO of Google as Larry Page moves up to be CEO of Alphabet along with Sergey Brin as its President. In addition, Alphabet Inc. will replace Google Inc. as the publicly-traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet, with all of the same rights.
“For Sergey and me this is a very exciting new chapter in the life of Google — the birth of Alphabet. We liked the name Alphabet because it means a collection of letters that represent language, one of humanity’s most important innovations, and is the core of how we index with Google search! We also like that it means alpha?bet (Alpha is investment return above benchmark), which we strive for! I should add that we are not intending for this to be a big consumer brand with related products—the whole point is that Alphabet companies should have independence and develop their own brands.” posted Larry Page on Alphabet’s website, abc.xyz.