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Google Is Restructuring Under a New Company Called Alphabet
Mark Wilson writes: Sundar Pichai is the new CEO of Google as the company undergoes a huge restructuring. Co-founders Larry Page and Sergey Brin are moving to a new company called Google Alphabet which will serve as an umbrella company for Google and its various projects. Google itself is being, in Page's words, "slimmed down" and the change is quite an extraordinary one. Page quotes the original founders' letter that was written 11 years go. It states that "Google is not a conventional company", and today's announcement makes that perfectly clear. There's a lot to take in...Google Alphabet is, essentially, the new face of Google. Page chose to make the announcement in a blog post that went live after the stock markets closed. This is more than just a rebranding, it is a complete shakeup, the scale of which is almost unprecedented.
First, the new parent company is just called "Alphabet" - not "Google Alphabet", as the summary claims.
Second, on the face of it this seems more like a rebranding than anything else. Nothing seems to be changing; they're just renaming "Google" to "Alphabet", and then repurposing the Google name to be used for one already-existing division within the renamed company. It doesn't sound like anything functional is really changing, which belies the idea this is a "massive reorganization".
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No. Google and Alphabet won't have separate stock. Google will become a wholly owned subsidiary of Alphabet. Like, you can't buy Chevrolet stock, you can only buy GM stock.
Existing Google shares will simply be converted to Alphabet shares.
The letter from Page could not be more clear. The new company name is Alphabet. Google is a wholly owned subsidiary of the new company along with YouTube, and other companies that will be created with their own CEOs.
GOOGL and GOOG stocks will continue to trade under those symbols, although the shares will actually be in the new Alphabet.
"He took a duck in the face at 250 knots." -- William Gibson, Pattern Recognition
Not so sure about that, it could become like Berkshire Hathaway where a single company controls multiple companies, each with their own publicly traded stock
Except that it couldn't be clearer:
"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."
From the blog post
Which is exactly what Spy Handler said.
Alphabet comes before Apple in a list sorted alphabetically.
I think Google Maps started at Google. But they integrated other functionality later.
You are correct that YouTube was purchased.
"Bayerische Motoren Werke AG" is the official name of BMW, you know, of the cars and the bikes. I don't think a single person gets richer if Alphabet buys it ;)
Never underestimate the relief of true separation of Religion and State.