Update: Google’s Alphabet restructuring taking place at the close of business today on Friday.
Old Story: In their original founders letters written 11 years ago, Larry Page and Sergey Brin wrote, “Google is not a conventional company. We do not intend to become one.” In the recent past, Google has been actively present in the areas other than search business, but this is the mother of all surprises. Google as we know doesn’t exist anymore. The company has decided to restructure itself under a new company called Alphabet Inc. and Google co-founders Larry Page and Sergey Brin will be Alphabet’s CEO and president respectively.
So, Google is now part of Alphabet Inc. and the co-founders want to expand themselves to the spheres other than search business. In the announcement, Larry Page says that he and Sergey are seriously in the business of starting new things. Alphabet will be comprised of Google, Google X lab, Nest, Calico and other ventures. Alphabet will be acting as a parent entity and Google will be reporting to it with its new CEO Sundar Pichai.
Google (read Alphabet) is changing its corporate structure to reflect that it comprises of things other than Google and out of all the Alphabets, G stands for Google.
Alphabet’s CEO Larry Page said in his blog post:
Alphabet will also be replacing Google as a publicly traded entity and all the shares of Google will be now under the name of Alphabet. Google will now be a wholly-owned subsidiary of Alphabet.
Read more about Alphabet and Google here in Larry Page’s blog post and share your views in comments below.
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