Google announced the creation of a new parent company called Alphabet, of which Google is only a small part. Not just a rebranding, then, but a restructuring in which Google will become a wholly owned subsidiary of Alphabet, Larry Page wrote in the post announcing the reorganization. Page will become CEO of Alphabet in which Sergey Brin will be President. Google will be under the guidance of Sundar Pichai, vice president of Android so far, Chrome and Apps.
Products such as Maps, Photos and Now will remain the responsibility of Google, as well as possibly Android, Chrome and YouTube, but that already operates as a separate entity under the leadership of Susan Wojcicki. Directly below Alphabet, however, will arise the new divisions that deal with project further away from the first business to Internet. Page directly quotes the division dedicated to Life Sciences, one that has developed the prototype of smart contact lenses, research laboratories Calico, Division X from which came the driverless car project and the Wing for deliveries drone, Nest and probably all projects ATAP from modular smartphone to smart fabrics and miniaturized radar.
The letter announcing the new company has also another surprise, an easter egg discovered by a POLITICAL journalist clicking on the point that follows the passage dedicated to Wing you land on the site created by the authors of the HBO series Silicon Valley like parody Google itself.
Alphabet Inc. will replace Google Inc. as a separate listed company and all the shares of Google will be automatically converted into the same number of shares of Alphabet. The company, therefore, will continue to operate on the Nasdaq with two classes of shares, the new GOOGL (Class A) and the historic GOOG (class C, which does not give the right to vote) for each share held, shareholders will be dealt a new, halving the value of the title, one of the few to rise over the thousand dollars.
Revolution in home Google. Mountain View announced a new corporate structure that separates the research on the web, YouTube and other Internet companies from research divisions and investment. The new corporate structure includes the creation of Alphabet, the new holding company. Larry Page will be CEO, while the other co-founder, Sergey Brin, will be president. Sundar Pichai will be promoted to CEO of Google Inc.
The G is for Google. As I and Sergey we wrote 11 years ago Google is not a conventional company. And we do not want it to become. In this context, we told you to expect small bets in areas that may seem speculative or even strange when compared to current activities, Page said on the Google blog, noting that the two founders did things that seemed crazy then. Many of these things have now more than a billion users, such as Google Maps, YouTube, Android and Chrome. And we did not stop. We're still trying to do things that other people think are crazy and of which we are very happy.
Our society works well today, but we believe that it can be better. For this we create a new company, called Alphabet, which is a collection, a collection of companies, the largest of which is Google. But this new Google is a bit lost weight, with the companies that deal with more than the products that will be contained in Internet Alphabet, Page points out, adding that Alphabet Inc will replace Google Inc. as a public company and all actions will be Google automatically converted into the same number of shares Alphabet, with the same rights. Google will become a subsidiary of Alphabet.
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