Skip to main content

Google Is Now Alphabet: Search Giant Changes Name

Google is to change its name to Alphabet, alongside a major restructuring.

The company will continue to operate as Google in most of the important ways, including the search engine that made it one of the world's biggest companies. But it will operate a holding company named 'Alphabet', announced after stock markets closed.

Alphabet will include not just Google but the company's huge array of other operations. That includes it's life sciences operations, for instance, which is working on a special smart contact lens.

Splitting the company up and rearranging it under a new name will allow each of those different businesses to be run by different bosses, the company said. It will also allow it to report each of those businesses' results separately.

The company also said that its reorganisation would help it concentrate on its more speculative, experimental work.

"Alphabet will also include our X lab, which incubates new efforts like Wing, our drone delivery effort," the company wrote in its announcement. "We are also stoked about growing our investment arms, Ventures and Capital, as part of this new structure." Google co-founder and CEO Larry Page Google co-founder and CEO Larry Page

Sundar Pichai, who before ran most of Google's most important products, will become its CEO. (Pichai had been rumoured to be in the running for the vacant position of Twitter CEO.)

Larry Page wrote in a blog post that the company has "long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes.

"But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant."

Referencing Google's 2004 commitment to not become a "conventional company", Page wrote that Google "is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet.

"I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President."

Google will continue to trade under its existing stock market symbols, GOOG and GOOGL. The company's shares were up over 5 per cent in after hours trading, following the post-close announcement.

All of the existing Google shareholders will see their stock automatically changed to the new company, Alphabet.
http://www.independent.co.uk/life-style/gadgets-and-tech/news/google-is-now-alphabet-search-giant-changes-name-to-avoid-becoming-a-conventional-company-10449227.html

Post a Comment

Popular posts from this blog

FG and labor leaders to meet today over planned strike action against increased pump price

The Federal government, leaders of the Nigeria Labor Congress NLC ‎and Trade Union allies will be meeting today May 16th to discuss on the planned strike action by the Labor congress. The labor leaders on Saturday May 14th gave FG till midnight of Tuesday May 17th to revert to the old pup price of petrol of N86.50 or face a total strike that may begin on Wednesday May 18th.

The Federal government and Labor leaders' meeting will hold at the office of the Secretary to the Government of the Federation in Abuja by 10am..

Those expected at the meeting include Minister of Labor Chris Ngige, leaders of NLC, TUC, Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, and their Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN counterpart.

Badoo Srine Discovered,Alaka Abayomi Of Alaka Petroleum Apprehended(Video)

The Nigerian police SARS, IRT and RRS, has arrested a popular independent oil marketer of Alaka petroleum Alhaji Abayomi Alaka . Following investigations of the recent killing of a family of five over the weekend , kudos to the gallant men of the Nigerian police

CHECK NEW OSHODI OUT,LAGOS IS WORKING