In a somewhat surprising bit of news, Google gave birth to its own parent company which took all the Tech industry by shock. The news was officially disclosed by Google’s co-founder Larry Page through a post all across Google’s blogs. Google is not owned by some other company rather a new company, Alphabet, created by Google’s original founders, Larry Page and Sergey Brin; and of which Google will be one of the many subsidiaries.
Google decided to expand its horizons by creating a parent company which would cater to the company’s innovative forays into unrelated areas while Google still being the brand covering search and leading the world of search engines. Larry Page and Sergey Brin, Google’s co-founders, decide to take up the charge of their new creation as roles of CEO and president respectively which resulted in Sundar Pachai, the former senior Vice President of Products at Google, stepping up as the new CEO of the “slimmed down” Google.
So what exactly is Alphabet?
Alphabet is basically a collection of companies which involves Google, its largest company, as well as many other companies that are far from Google’s usual products and services. This allows Alphabet to manage and run companies whose ideas and innovations are quite far from what Google originally did and who will be run by a strong CEO suited to a particular company’s needs. Alphabet will also replace Google as the publicly-traded entity and all its shares will be automatically converted into the same number of shares of Alphabet, with exactly the same rights.
Larry Page explained this new venture; he said “We’ve long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes.” He further said, “In the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant.”
He further talked about Alphabet and what he and Sergey Brin plan to do with the brand, “Sergey and I are seriously in the business of starting new things. Alphabet will also include our X lab, which incubates new efforts like Wing, our drone delivery effort. We are also stoked about growing our investment arms, Ventures and Capital, as part of this new structure.”
What does Alphabet mean for consumers like you and I? Nothing much just the same big things people are now used to expect from Google but now it will be under a bigger name with a broader range.
Google just expanded its horizons beyond measures by taking this step and has once again proved that it is not just a search engine company rather an idea which is not at all shy to take new steps and leading the world into a whole new era of technology. They managed to show their amazing marketing skills even through the choice of URL name, http://abc.xyz because alphabet.com would have been too mainstream.Parent of Google: Alphabet Just Born! by Fizzah Iqbal