Easy as A, B, C?
Google is no stranger to hogging the technology headlines and this week was no different. The search engine giant has always been one for going against the grain and this latest move is testament to their alternative style. Google is now Alphabet, a change that has shocked many browsers but comes as no surprise to SEO and web design agencies like ourselves who are constantly hearing of new ways that Google can set themselves apart from the ‘conventional’ companies.
Why the big change?
The major restructuring is more than just not wanting to appear to be conventional. Alphabet will essentially be a holding company, allowing Google to operate under its own authority alongside the wider organisation’s other operations.
As well as drawing reference to the commitment they made in 2004 – to not become a conventional company – the creation of Alphabet was also described as a move to become cleaner and more accountable. Google co-founder and CEO Larry Page will become CEO of Alphabet, leaving Sundar Pichai (who until now oversaw the development of Google’s most important products) to step up as the CEO of now subsidiary Google, despite his rumoured move to Twitter. However, it is stated that each business under Alphabet Inc will be its own company with its own boss.
Who is Alphabet?
Unbeknown to many, the search engine that most of us use on a daily basis is just a tiny part of what Google, now Alphabet, does.
Alphabet will include the vast number of companies that Google has created and acquired since it started out, including Android, YouTube, DoubleClick, Admob, Motorola, Meebo, Waze, Flutter, VirusTotal and Metaweb. Their life sciences operations will fall under the Alphabet name, a division currently working on a smart contact lens, whilst their mysterious X Labs will also be included. X Labs began back in 2010 and was credited with the development of their iconic self driving car, however, many more tech breakthroughs are being eyed up and developed by the ‘secret lab’, technologies that could shape the future.
What now for Google?
Despite the announcement regarding the creation of holding company Alphabet coming just after the stock markets closed, Google will continue to trade under existing stock symbols GOOG and GOOGL. Google shareholders will see their stock changed over to Alphabet, whilst the post-close announcement is already having an impact as shares increased by over 5% in after-hours trading.
All we can do now is see what the future holds for the Alphabet family but with promises of more ambitious developments, improved transparency and more opportunities available to entrepreneurs, the name change can only be a good thing.