Google Restructures, Announces New Parent Company "Alphabet"

Alphabet will be the umbrella to Google, Life Sciences and Calico.

Tech
8,914 Hypes 0 Comments

In a blog post, former Google CEO and Co-Founder Larry Page announced that the company is introducing a new structure in which “Alphabet” will become Google’s new parent company. Page is now CEO of “Alphabet,” which also oversees Life Sciences and Calico. Additionally, Sergey Brin, Page’s co-founder of Google, will take on the role of president for Alphabet, while Eric Schmidt will become its executive chairman. Meanwhile, Sundar Pichai, former senior vice president of products, will be promoted to the role of CEO for Google. According to Larry Page, “[Pichai] has really stepped up since October of last year, when he took on product and engineering responsibility for our Internet businesses. Sergey and I have been super excited about his progress and dedication to the company.”

While Google is folding into Alphabet Inc., it will retain all of its functions including Search, Maps, Android, YouTube and ad businesses. However, investors should know that Alphabet Inc. will replace Google on the stock market, and according to Page, “all shares of Google will automatically convert into the same number of shares of Alphabet, with all of the same rights.” The ultimate aim of this restructure is to allow the company to refocus on Google’s plenitude of opportunities, improving transparency and oversight, and taking a longer-term view to be more ambitious. Read the entire blog post here.

Alphabet is mostly a collection of companies. The largest of which, of course, is Google. 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. What do we mean by far afield? Good examples are our health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity). 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.

For Sergey and me this is a very exciting new chapter in the life of Google — the birth of Alphabet. 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! I should add that we are not intending for this to be a big consumer brand with related products–the whole point is that Alphabet companies should have independence and develop their own brands.

Read Full Article

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

493 Users Online

What to Read Next

Drake's 'If You're Reading This It's Too Late' Went Platinum
Music 

Drake's 'If You're Reading This It's Too Late' Went Platinum

Drake’s If You’re Reading This It’s Too Late has officially become the first album released in 2015

Speak & Caleb Stone - Cold Beer & The Shell Fish
Music 

Speak & Caleb Stone - Cold Beer & The Shell Fish

The west side art goon Craigslist killer is back. Speak has formally announced his next album

Niykee Heaton - 21 Grams
Music 

Niykee Heaton - 21 Grams

While Niykee Heaton built her reputation primarily off her covers and looks, she’s really been


Watch Jimmy Prime Ride Through the 6 in His Video for "Can't Stop Myself"
Music 

Watch Jimmy Prime Ride Through the 6 in His Video for "Can't Stop Myself"

Toronto native, Jimmy Prime, formerly known as Jimmy Johnson, has shared a new video for his song

2 Chainz - Everything I Know
Music 

2 Chainz - Everything I Know

Ahead of the release of his next project Trapvelli Tre, 2 Chainz has unveiled a new song entitled

Stream GVVAAN's 'Lifeguard' EP
Music 

Stream GVVAAN's 'Lifeguard' EP

GVVAAN and his BLEÜ DOPE WRECKNCRÜ have been making some noise these past few months with a few

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.