So you thought Google was a sprawling Silicon Valley entity with a frightening amount of power...
... Meet Alphabet . Larry Page just announced thisnew parent company for Google and all of its various offspring. Speaking for his fellow Google co-founder Sergey Brin, Page called the creation of Alphabet "a very exciting new chapter in the life of Google." He means that it's the next step to making the search giant into an even more
giant corporation. The new umbrella company will include Google spinoffs like its health effort, Life Sciences, and longevity research arm, Calico , as
well as its mad scientist paradise, X lab.
Ventures, Capital, Sidewalk, and the drone-delivery service Wing will also become separate companies under Alphabet's umbrella.
Also read: Google Hid A Cute Easter Egg In Its Big Alphabet Announcement
For now, Alphabet's creation appears to be a
restructuring that will affect Google's growth
going forward. Page explained that Google will be
slimmed down as spinoffs become their own
companies. He also announced that Sundar
Pichai-the former head of Android, Chrome, and
Apps-will become CEO of Google. Page and Brin
will ascend to the top two positions at Alphabet
as the parent company's CEO and President,
respectively. Google stock will become Alphabet
stock, and everyone will be confused about this
means for a little while.
Speaking of confused, what's up with that name?
Page explains : 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!
Okay! So Alphabet implies control over all
communication and the future of business growth.
- Got it. Good.
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