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Google becomes subsidiary of Alphabet

Posted: 11 Aug 2015 ?? ?Print Version ?Bookmark and Share

Keywords:Alphabet? self-driving cars? parent company? subsidiary?

Google has dropped another bombshell in the technology world, but this time, it's neither a new technology nor a novel product.

Cofounder and CEO Larry Page announced in a press release the company's new name and structure. Apparently, Google is now a just a part of an umbrella company called Alphabet.

"Alphabet is mostly a collection of companies," Page said in the release. "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."

Google founders Page and Sergey Brin will become CEO and president of Alphabet, respectively.

In Page's own words, the new parent company will have the following goals:

  • Getting more ambitious things done.
  • Taking the long-term view.
  • Empowering great entrepreneurs and companies to flourish.
  • Investing at the scale of the opportunities and resources we see.
  • Improving the transparency and oversight of what we're doing.
  • Making Google even better through greater focus.
  • And hopefully ... as a result of all this, improving the lives of as many people as we can.

  • Sundar Pichai, who has been in charge at Google since October, is now its CEO.

    "It is clear to us and our board that it is time for Sundar to be CEO of Google," Page said in the release. "I feel very fortunate to have someone as talented as he 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 innovationcontinuing to stretch boundaries," he added.

    While confusing, the move streamlines the operations of Google, which has been venturing to other fields that are far too different from its original purpose. Examples of such projects include the self-driving car by Google X and the search for a cure for death by Calico. Both entities will now operate as stand-alone companies or as subsidiaries of Alphabet.

    The other subsidiaries include Google Ventures and Google Capital (investing), Nest (internet-connected home devices), and Fiber (high-speed internet).

    All the other remaining projects and ventures, such as Android and YouTube, will still be under Google's domain.

    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.

    - Stephen Padilla
    ??EE Times Asia





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