In a mildly surprising move yesterday, Google announced it restructured itself into multiple companies. It established a new umbrella company called Alphabet (https://abc.xyz/) and it will run Google’s core Internet business as well as most of its other projects. In a blog post by Google co-founder Larry Page, he stated that “Alphabet is mostly a collection of companies. The largest of which, of course, is Google.”
Google will continue to run the Internet services that you’ve come to know and love. Google Maps, YouTube, Chrome and Android will still fall under Google’s purview. Other less connected projects such as X Lab, Fiber and Calico longevity project will be brought under separate entities, allowing them “more management scale” and independence.
If you’re wondering what companies Alphabet is made of, here’s a short list.
- Calico (Longevity biotech research)
- Capital (Investment arm)
- Fiber (Internet service)
- Life Sciences (“works on glucose-sensing contact lens”)
- Nest (Makes smart home products)
- Ventures (Venture Capital arm)
- X lab (Research wing)
Alphabet Inc. will soon replace Google Inc as its publicly-traded entity and shares in Google will be converted to shares in Alphabet Inc. Alphabet will be headed by founders Larry Page and Sergey Brin as CEO and President while current Senior Vice President for Products Sundar Pichai will take over as the CEO for the restructured Google.
If you’re wondering why its ABC.XYZ, that’s probably because Alphabet.com is already owned by someone else. According to The Verge, Alphabet Fleet Management, which is a part of BMW Group, owns the domain alphabet.com and the related Facebook page facebook.com/alpahabet. But with “Googliness” at its heart, Alphabet came up with a brilliant choice for its new domain name.
Cover picture from Humanresourcesonline.net