CEO Larry Page says Alphabet means a “collection of letters that represent language, one of humanity’s most important innovations, and is the core of how we index with Google search!”
The google journey has been an inspiring one, and in a short term they have achieved much more than anyone would ever expect them to.
“We are examining whether there are any implications over trademarks”, a BMW spokeswoman said on Tuesday.
Under the new setup, Google will have Sundar Pichai, who is the Senior Vice President of Product, as its new CEO.
Eric Schmidt, the executive chairman at Google, will transition to Alphabet with the same title, Google said. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main Internet products contained in Alphabet instead. Good examples are our health efforts: “Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity)”, Page explains. Both Page and Brin will be exclusively responsible for determining the compensation of the CEOs in each spin-off company and they’ve introduced segment reporting for Google’s Q4 results, where the internet company’s financials will be provided separately from the rest of Alphabet businesses as a whole. Alphabet could choose to seize the opportunity to connecting the dots among its subsidiaries’ different businesses in pursuit of larger goals. Google Ventures and Google Capital will also become independent Alphabet companies.
Following a restructure, Google has created a new parent company called Alphabet Inc.
On the reverse, there had been concerns that the dominance of Google in its sector had reached its peak.
Google X is the bed of many blue-sky projects, Google Glass started there, and the unit is also where Google is conducting the Baseline Study to better understand the human body that it announced in July 2014.
If you are unfamiliar with the Indian-born Sundar Pichai, he has been with Google since 2004 and is an Illuminati of IIT Kharagpur and Stanford University.
“There have been a lot of questions about their ability to grow outside of search”.
It was a genuine surprise and looks like Google has been planning it out for a very long time, but the actual fact of the matter is that it has had quite an impact on the stocks.
In Mountain View, the announcement came as big, albeit cryptic news. However, most of these bets entail a high investment outlay, which weighs on the margins of the cash producing business – i.e., online search and ads business.
Trip Chowdhry at Global Equities Research called the move “very positive” because it increases transparency for investors.
Robin Richmond, managing director of Edinburgh-based digital marketing agency 8 Million Stories, said consumers were unlikely to see major changes under the shake-up, with popular products and apps such as YouTube, Gmail and Google Maps retaining their familiar look and names. It looks like Page and Brin are bored of Google and want to go full Tony Stark.
Some analysts predicted shares in the new holding company could rise from about $700 to well over $800.