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Google Revamped
Google Inc. unveiled a sweeping reorganization that separates its highly profitable search and advertising platform - business.
On August 10th 2015, Google had created a Father company, Alphabet Inc, that will manage each of its growing cast of businesses, including those building robots and self-driving cars, Maps, Android, Youtube, developing nanoparticles and extending Internet connectivity via balloons and of course, this includes Google too.
On August 10th 2015, Google had created a Father company, Alphabet Inc, that will manage each of its growing cast of businesses, including those building robots and self-driving cars, Maps, Android, Youtube, developing nanoparticles and extending Internet connectivity via balloons and of course, this includes Google too.
Larry Page will become Alphabet’s CEO. Sergey Brin will be its president, and Eric Schmidt will be the executive chairman of Alphabet. Ruth Porat will be its CFO, and David C. Drummond will be the chief legal officer and secretary. The company’s chief business officer, Omid Kordistani, will step down and become "an advisor to Alphabet and Google" according to the company’s SEC filing.
So, what is Alphabet?
"Alphabet is a collection of companies. The largest of which, of course, is Google. 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. Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related," Mr. Page wrote in a blog post.
Google Fiber, the company’s broadband arm, will also become a new entity managed outside of Google proper, as will the company’s investing arms, such as Google Ventures and Google Capital.
So, what is Alphabet?
"Alphabet is a collection of companies. The largest of which, of course, is Google. 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. Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related," Mr. Page wrote in a blog post.
Google Fiber, the company’s broadband arm, will also become a new entity managed outside of Google proper, as will the company’s investing arms, such as Google Ventures and Google Capital.
Alphabet Inc. will replace Google Inc. as the publicly-traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet, with all of the same rights. Google will become a wholly-owned subsidiary of Alphabet. Our two classes of shares will continue to trade on Nasdaq as GOOGL and GOOG.
Google has jumped into dozens of new businesses in recent years, but it remains primarily an advertising company, generating most of its revenue and nearly all of its profit when people click ads in search results. Researcher eMarketer estimates that Google ends up with one in 10 dollars spent on advertising globally, about $53 billion this year after paying back its partners.
The move raises the profile of Mr.Sundar Pichai, a 43 years old Indian, who will become chief executive of the new Google Inc., Alphabet’s search, advertising and mobile unit.
The Founders are excited about:
Google has jumped into dozens of new businesses in recent years, but it remains primarily an advertising company, generating most of its revenue and nearly all of its profit when people click ads in search results. Researcher eMarketer estimates that Google ends up with one in 10 dollars spent on advertising globally, about $53 billion this year after paying back its partners.
The move raises the profile of Mr.Sundar Pichai, a 43 years old Indian, who will become chief executive of the new Google Inc., Alphabet’s search, advertising and mobile unit.
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Mr.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! We also like that it means alpha-bet (Alpha is investment return above benchmark), which we strive for!"The Founders are excited about:
- Getting more ambitious things done.
- Taking the long-term view.
- Empowering great entrepreneurs and companies to flourish.
- Investing at the scale of the opportunities and resources we see.
- Improving the transparency and oversight of what we’re doing.
- Making Google even better through greater focus.
- And hopefully... as a result of all this, improving the lives of as many people as we can.
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Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 12th August 2015.
