Alphabet Inc. (commonly known as Alphabet ) is an American multinational conglomerate created in 2015 as the parent company of Google ...
Alphabet Inc. (commonly known as Alphabet) is an American multinational conglomerate created in 2015 as the parent company of Google and several other companies previously owned by or tied to Google. The company is based in California and headed by Google's co-founders, Larry Page and Sergey Brin, with Page serving as CEO and Brin as President.The reorganization of Google into Alphabet was completed on October 2, 2015. Alphabet's portfolio encompasses several industries, including technology, life sciences, investment capital, and research. Some of its subsidiaries include Google, Calico, Google Ventures, Google Capital, Google X, and Nest Labs. Following the restructuring Page became CEO of Alphabet while Sundar Pichai took his position as CEO of Google. Shares of Google's stock have been converted into Alphabet stock, which trade under Google's former ticker symbols of "GOOG" and "GOOGL".
The establishment of Alphabet was prompted by a desire to make the core Google internet services business "cleaner and more accountable" while allowing greater autonomy to group companies that operate in businesses other than internet services
They also said that Sundar Pichai is taking over as CEO of Google.
Pichai has worked at Google since 2004, most recently as the senior vice president of product. Pichai has also been the most visible Google executive of late, giving the keynote at Google's annual developers conference earlier this year.
Alphabet will operate as the parent company for a number of smaller companies, including Google, which will continue to focus on Internet products. Android, YouTube, search and ads will remain part of Google Inc.
Other departments spinning off into their own sub-companies including research focused Life Sciences (Google contact lenses), the Google X lab (driverless cars, Google Glass, drone delivery), Calico (increasing longevity), and the company's robotics division. Google Ventures and Google Capital will also become independent Alphabet companies.
The Alphabet companies will retain their current leadership. Nest will be led by Tony Fadell, Sidewalk Labs by Dan Doctoroff, and Calico by Arthur Levinson. YouTube CEO Susan Wojcicki will now report to Pichai.
Brin will continue to head up Google X in addition to his role as president of Alphabet. Eric Schmidt will become Alphabet's executive chairman.
"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," said Page in the announcement.
Page said the companies would all retain a great deal of independence and be run by strong CEOs.
