The craziest shift in Google's history!Goodbye Google Inc. - Hello Alphabet Inc.
Google just switched to being a subsidiary to a new company called Alphabet, founded by +Larry Page
(CEO) and +Sergey Brin
(President). So this isn't a farewell to Google in that sense though. It just means that Google will actually be able to focus more on... well - Google, and not all the other moonshot projects and big acquisitions such as Nest.
'Financially' this means that "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. Our two classes of shares will continue to trade on Nasdaq as GOOGL and GOOG."
This means that in Alphabet you will see new CEOs, starting with Google's new CEO who will be +Sundar Pichai
, which shouldn't be a surprise. This also makes sense why Sundar was slowly taking over more and more at Google. Although I wouldn't actually call it slow. He went from head of Chrome/Chrome OS and Android in March 2013 to CEO of Google today! What an accomplishment!So to get an overview:
Alphabet is creating an umbrella under which you will have these companies separately:
- Google Fiber
- X Labs (Google X)
- Side Walk Labs
- Google Ventures
- Google Capital
Larry Page will still help out Sundar Pichai with Google but his focus has fundamentally shifted, and that is the best thing about all of this.The reason why Alphabet is here, is to create more focused and streamlined companies. Yet all with the same goal.
And if you haven't seen the easter egg in the announcement, try clicking on the period after "delivery effort". This means that Alphabet will take Google's good sense of humor with them ;-)