Monday, August 17, 2015

ALPHABET...The New Company That Owns Google

   
   

This is arguably the shocking news of the week as google made it public that they have rearranged and reorganized itself under a new parent company called "Alphabet". With this development,  some of google's top business is henceforth going to be run under the umbrella of Alphabet.

You might be a little bit confused and thinking what this alphabet really is but don't worry. Alphabet is a collection of companies, of which google is the largest.
Check out what google co-founder just said in google blog post “This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main Internet products contained in Alphabet instead.” 

Services such as Google Maps, YouTube, Chrome, and Android will still be run by google but “moonshot” projects such as the X Lab and the Calico life extension project will operate as separate entities as a result of this change.

Larry Page continued by saying “Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related. Alphabet is about businesses prospering through strong leaders and independence,” Page wrote.

However, there are rumors over who will take over as CEO of google and Sundar Pichai who was Page's longtime lieutenant is reportedly in line to take over the position. Page will serve as CEO of Alphabet, while Google co-founder Sergey Brin will serve as president.

Mr Page continued “In general, our model is to have a strong CEO who runs each business, with Sergey and me in service to them as needed. We will rigorously handle capital allocation and work to make sure each business is executing well. We’ll also make sure we have a great CEO for each business, and we’ll determine their compensation,” Page said

Some of Google’s businesses are splitting off to become their own separate companies under Alphabet
Company shares will continue to trade on the Nasdaq under the same GOOGL and GOOG ticker symbols but Alphabet will eventually replace Google as the publicly traded company on the Nasdaq stock exchange, and all shares of Google will convert to shares of Alphabet and earnings of google will be reported separately from other spinnof companies.
Do you think this is a good move by google?


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2 comments:

  1. I hope it yields better result

    ReplyDelete
  2. Could you please give us the full meaning of the acronym ALPHABET

    ReplyDelete

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