Alphabet Inc. is the new parent company in Google restructuring. An announcement by Google co-founder Larry Page signaled the restructuring of the Google empire. The aim is to create a simpler structure for the group and introduce greater accountability for the different operating businesses. Google will retain its best-known businesses such as search, apps, analytics, […]
Alphabet Inc. is the new parent company in Google restructuring.
An announcement by Google co-founder Larry Page signaled the restructuring of the Google empire. The aim is to create a simpler structure for the group and introduce greater accountability for the different operating businesses. Google will retain its best-known businesses such as search, apps, analytics, You Tube and Android. Alphabet will look after newer businesses such as Life Sciences, Calico, X Lab, Ventures, drone delivery service Wing, and ‘smart-home business Nest, as separate companies.
Page explained “”This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google.” And “The whole point is that Alphabet companies should have independence and develop their own brands.”
So why Alphabet? In Pages own words again “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!’
Sundar Pichai – former head of Android, Apps and Chrome will become CEO of the slightly slimmed down Google, while Page and Brin will become CEO and President respectively of the new parent company Alphabet.
