Google is all about surprises since its inception and this time its way more surprising than the earlier times. Google is now becoming the subsidiary of Alphabet. Pretty surprising! Isn't it? After all, how can the tech giant like Google can be someone's subsidiary? But, the news is true to the best of our knowledge as the company has announced that they are planning to rebrand itself as Alphabet – a new holding company and Google ( as it exists) will be the largest wholly owned subsidiary of the Alphabet.
According to the current CEO Larry Page, he would be appointed in the same post in the new holding concern Alphabet while Sundar Pichai, currently a senior vice president of the internet businesses, will hold the post of CEO of Google. And from now onwards, Alphabet Inc. will replace Google as the publicly traded entity and henceforth all shares of Google will automatically convert into the same number of shares of Alphabet, while resuming the same rights.
As said by Larry Page, the current CEO, “For Sergey and me this is a very exciting new chapter in the life of Google — the birth of Alphabet.” He also added, “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.”
But, the best part is that the Alphabet and its business will be no different from that of Google and it will continue with the search, maps and YouTube, Gmail along with businesses ventures like Fiber, Nest and investing arms like Google Ventures that are managed separately so far by Google.
In the new structure of Alphabet Inc. Mr.Page is likely to work along with Sergey Brin, the co-founder of Google in 1998. Though the parent entity will be Alphabet, it will house several other business that were so far been supervised by Google. And Google will be the biggest of its subsidiaries. And what's more! The subsidiary portfolio of Alphabet Inc. will be composed of the big shots like Nest, the smart-thermostat maker, and Calico, a company focused on longevity.
Sources said that Google's move to rebrand itself as Alphabet Inc. is one of the most significant step adopted by the tech giant so far. And to handle the sprawl of Google's extended business, this is indeed the most happening step adopted on the Google's part. Moreover, the growing competition with the other technology companies like Facebook and Amazon, also made Google take such an amazing step.
While these tech companies started on with a single business like online bookselling or a social network, recently, they have diversified their businesses in the fields like cloud computing, photo sharing and even satellites. Such a step on Google's part is also the need of the hour. And according to the authorities, such a step on Google's part will help it continue with its diverse business in a more streamlined manner.
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