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Google Reorganizes with New Parent Company — Alphabet

August 11, 2015  - By

google-logo-TGoogle is reorganizing under a new name, Alphabet, separating its moneymaking businesses from its cutting-edge ventures such as the self-driving car and drone delivery service. The move is being made because Google’s penchant for experimentation made traditional investors nervous, according to the New  York Times.

Alphabet would be the parent entity, housing several companies, with Google the biggest among them. 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. Google will become a wholly-owned subsidiary of Alphabet.

“For Sergey and me this is a very exciting new chapter in the life of Google — the birth of Alphabet,” Larry Page, the chief executive of Google, wrote in a blog post on Monday. “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!””

“Sergey and I are seriously in the business of starting new things.” Page writes in the blog. “Alphabet will also include our X lab, which incubates new efforts like Wing, our drone delivery effort. We are also stoked about growing our investment arms, Ventures and Capital, as part of this new structure.”

 

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