“This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google,” – Larry Page
Google announced yesterday that it is undergoing a major reconstruction of its company and services as the tech giant changes its name to Alphabet. Google’s share price rocketed 5.8% after the announcement. But what does this mean for the normal everyday internet user?
Here’s the basics:
- They will continue to operate under the name Google in most of their branches – including the search engine;
- Alphabet Inc. will replace Google Inc. as the publicly-traded entity and all the shares of Google will automatically convert into Alphabet shares;
- Alphabet will include not just Google but all of the company’s other operations, including life sciences, X lab, drone deliveries, investments, Google Glass, self-driving cars etc.);
- The name change allows each of the different businesses to be run by different bosses – and each of the businesses will report its results separately;
- CEO Larry Page said that the change will make things cleaner and more accountable. See his blog post.
List of subsidiaries that Alphabet Inc. will include:
- Calico (anti-aging biotech company);
- Nest (makes Internet-connected devices for the home);
- Fiber (high-speed Internet service in a number of American cities);
- Google Ventures and Google Capital (investment companies);
- Google X (developing self-driving cars and delivery drones);
- A few more incubator projects.
As a company Regency Creative is always keen to keep ahead of any developments in the web design and tech industry. For the average web user it doesn’t look like we’ll be seeing a huge amount of change from Google at this stage but let us keep you up-to-date on any developments by joining our mailing list.
For more information on the restructure you can visit Alphabet Inc. at www.abc.xyz