And it has long since expanded beyond its core business as a search browser, becoming one of the biggest and most far-reaching tech companies on the planet.
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On the stock exchange, what was once Google will henceforth be known as Alphabet. His new role will be about positioning Google for the future, which hands him some of the toughest jobs in all of tech – like shifting the profit engine from the desktop to mobile and combating the rapid growth of Amazon.com Inc.in e-commerce and cloud computing and Facebook Inc.in social networking.
Pichai also has a strong supporter in Google CEO Larry Page.
The names of two other schools joined the race – GRT Mahalakshmi Vidyalaya and All Angels School.
According to Page, it boils down to a question of focus and clarity.
“While there are many details to be worked out, this could lead to a much nimbler and aggressive Google that can take on additional risks to compete with upstarts and existing Internet platform companies”, Mizuho Securities analysts wrote in a client note, raising their rating to “buy” from “neutral”. However the new parent company might have got into bit of a trouble BMW.
The restructuring will also provide investors with more financial transparency, making it easier to “get a sense of how Google’s core business is doing”, the Times explained. That will include divisions like Life Sciences and Calico, which tend to focus on moonshot goals such as developing glucose-sensitive contact lenses or extending the human lifespan.
Google shareholders will become investors in Alphabet, and the parent company will publish both its own financials and that of the core business, which will be run by highly-respected Google executive Sundar Pichai and retain the Google name.
Google’s X Lab, which functions as a sort of skunkworks for the company incubating new products such as a drone delivery system, will also be a separate Alphabet subsidiary. And don’t forget (Google) Ventures and (Google) Capital, its investment arms that have taken stakes in companies like ridesharing service Uber and SpaceX, Elon Musk’s space exploration company.
But the name Alphabet itself is simple and fits with Google’s reputation as being “user friendly and elementary”, says Tom Sepanski, naming and verbal identity director of branding firm Landor.
In the words of Larry Page, “Alphabet is mostly a collection of companies”. Despite the reorganization, Google will continue to develop new products within the subsidiary, such as the recently launched Google Photos and Google Now.
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Under the new structure, Google financials for the fourth quarter will be provided separately from those for the rest of the Alphabet businesses as a whole.
