Title: SHOCKING! Google’s Secret Parent Company Unveiled - Say Hello to Alphabet!
Introduction: In a surprise announcement that shocked the tech world, Google recently unveiled its new parent company - Alphabet. This move is a radical departure from the company’s traditional structure, and it has left many people wondering what Google is up to. In this article, we’ll take a deep dive into the creation of Alphabet and what it means for Google and the tech industry as a whole.
Body: Google has always been known for its innovative approach to business, and the creation of Alphabet is no exception. The company’s founders, Larry Page and Sergey Brin, announced the move in a blog post on the Google website, and it was met with both excitement and confusion by the tech community.
So, what exactly is Alphabet, and how does it differ from Google? Essentially, Alphabet is a holding company that will oversee all of Google’s various subsidiaries, including Google itself, as well as other ventures like Calico (which focuses on anti-aging research) and Nest (a maker of smart home products).
By creating Alphabet, Google is able to separate its core search and advertising business from its more experimental ventures. This will allow the company to give more attention to its various subsidiaries, without neglecting its core business. It also gives Google the flexibility to spin off its various subsidiaries as independent companies, if they become successful enough to stand on their own.
Another benefit of Alphabet is that it allows Google to be more transparent about its finances. Previously, all of Google’s subsidiaries were lumped into the same financial reports, making it difficult to see how each individual unit was performing. With Alphabet, each subsidiary will have its own financial statements, making it easier for investors to see how each unit is doing.
Conclusion: Overall, the creation of Alphabet is a bold move by Google that is sure to shake up the tech industry. By separating its core business from its subsidiaries, Google is able to give more attention to its various ventures while also becoming more transparent about its finances. Only time will tell whether this move will pay off for the company, but one thing is for sure - Alphabet is a name we’ll be hearing a lot more of in the years to come.
On August 10th, Google took everyone by surprise announcing a massive company restructuring. At first, it might have sounded as typical Google April’s fool joke, but it’s true – The search giant has just unveils that it’s forming a new umbrella company called Alphabet, which will be the new parent company for Google and for a number of other small companies.
Google co-founders Larry Page and Sergey Brin will be the bosses of Alphabet. Larry Page is taking the role of CEO and Sergey Brin is taking the role of president, while Eric Schmidt will become the executive chairman of Alphabet.
The company also announces that Sundar Pichai is taking over the CEO position of Google Inc.
You probably already know Sundar Pichai. He started in Google back in 2004, he’s the senior vice president of product, and you might have seen him giving the keynote at Google I/O 2015.
Alphabet will collect all Google’s companies under one name. The biggest company under Alphabet is, of course, Google, which will continue its focus on internet services, such as search, ads, YouTube, Chrome, Android, Google Maps, and apps.
Then we have the other Google divisions that will become Alphabet subsidiaries, including Google X lab, which focus on driverless cars, Google Glass, and drone delivery. There is also Calico (increasing longevity), Life Science (Google contact lenses), and the robotics division, Sidewalk, Nest, and Fiber.
In addition, Google Capital and Google Ventures will become smaller companies own by Alphabet.
On the public announcement made by the company, Larry Page stated:
According to the company, the new restructuring will help its subsidiaries to be more independent. Each company under Alphabet will be able to explore and expand independently without affecting other parts of the company or investors.
“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.”
Page also explains why they have chosen the name “Alphabet”:
Finally, Google stock will become Alphabet stock, but the company will continue to trade under the GOOGL and GOOG ticker symbols; the new change will occur later in the year.
“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!”
No surprising, Alphabet also has a website (abc.xyz), which include the announcement and a hidden link to the Hooli.xyz website for the HBO TV show Silicon Valley.
Source Google via CNN Money
