It was said that the next Google is Google itself, but now it is the Alphabet. The Co-Founder of this search giant company Larry Page announced today the creation of Alphabet Inc.(http://abc.xyz), a new corporation that will comprise Google and other previously Google-held properties to make it cleaner and more accountable.
The CEO of Alphabet will be Larry Page and the co-founder Sergey Brin will be the President of the Umbrella Company. Eric Schmidt will serve as Executive Chairman of Alphabet Inc.
What is Alphabet?
Larry Page says – “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.”
G is for Google
The Umbrella Company Alphabet will consist many major and minor company under it, as it will make it more cleaner and more accountable. The Alphabet G is for Google. Sundar Pichai also known as Pichai Sundararajan, will serve as CEO at Google. Larry says in his letter that, “I feel very fortunate to have someone as talented as he (Sundar Pichai) is to run the slightly slimmed down Google and this frees up time for me to continue to scale our aspirations. I have been spending quite a bit of time with Sundar, helping him and the company in any way I can, and I will of course continue to do that. Google itself is also making all sorts of new products, and I know Sundar will always be focused on innovation — continuing to stretch boundaries.”
Larry added “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.”
The Company Alphabet Inc. is also stoked about growing our investment arms, Ventures and Capital, as part of this new structure and will grow taking them all together. The Key focus of the company is to Empower great entrepreneurs and companies to flourish, Invest at the scale of the opportunities and resources,
Improve the transparency and oversight and making Google even better through greater focus.
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