The Internet giant Google is radically restructured. The ancestral web business in the search engine and online advertising should be separated from new ventures such as self-driving cars or drones.
Alphabet is a newly created group holding
It is further Google, but migrates under the roof of a newly created Group holding company named Alphabet. There, the specialist for home-networking Nest or the innovation lab Google X will in future operate as an independent company, for example.
The conversion should make the company more transparent, wrote Google co-founder Larry Page in a blog post on Monday. He changes from the top job at Google to the top of the alphabet. The Web-core business Google is the future of the 43-year-old top manager Sundar Pichai lead, who was regarded as the right hand of Page in the area and got transferred more and more responsibility in the past months. Today’s Google shareholders get instead shares of Alphabet. The conversion should be initiated later this year.
Ventures, Fiber, Android and Co.
In web business under the name of Google to the video platform YouTube, the most widely used smartphone system Android, the apps, the digital maps and the associated technical infrastructure remain. Separately, come as an independent sectors, among others health daughter Calico, the startup financiers Google Ventures or fiber-network operators Fiber under the Alphabet roof.
alphabet is basically a collection of companies, said Page. “We liked the name alphabet, because it means a collection of letters, which stand for the language, among the most important innovations of humanity and the core of which are as index as in the Google search.”
Investors had long been worried about the fact that the future projects consume a lot of money – while the lion’s share of the money is still being generated in the core business with online advertising in the field of Internet search. Finally, for example, demonstrated the previous failure of the data goggles Google Glass that one in the future also can lose a lot of money with big bets. Investors are now hoping for a clearer conditions and let the Google stock after trading to rise by six percent. Google CFO Ruth Porat, who came from Wall Street, will work with alphabet in the same position.
“own brands develop”
“We believe a long time that companies there familiarize yourself with the time so convenient to do the same things to make only minor changes, “wrote Page. The Google founders wanted to “start new things.” The individual company should act independently within the alphabet. “The whole point is that the alphabet firms have their independence and to develop their own brands.”
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