Tags: google | alphabet | unbrella | corp

Google's Alphabet Is Umbrella Corp for Search, Other Projects

Image: Google's Alphabet Is Umbrella Corp for Search, Other Projects
As a subsidiary of Alphabet, Google will now be led by Sundar Pichai. (Robert Galbraith/Reuters, file)

By    |   Tuesday, 11 Aug 2015 08:54 AM

Google created a new parent company, Alphabet Inc., which will be run by CEO Larry Page and co-founder Sergey Brin, the quickly evolving Internet search giant announced Monday.

"What is Alphabet? Alphabet is mostly a collection of companies. The largest of which, of course, is Google," Page wrote on the official company blog.

"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."

The blog post went on to say that Alphabet will also subsume Life Sciences (currently working on glucose-sensing contact lens), Calico (which is focused on longevity), and Nest (smart thermostats and connected-home products).

According to The Wall Street Journal, as a subsidiary of Alphabet, Google will now be led by Sundar Pichai, 43, previously head of product and engineering. Each CEO, including Pichai, will now report to Page – a corporate structure similar to Warren Buffett’s Berkshire Hathaway Inc.

"It was getting harder and harder to hide the costs of some of the company’s projects," one former Google executive told The Journal. "It’s easier to take the core business and run it like a Fortune 500 company," keeping the moonshot projects separate.

"Fundamentally, we believe this [new structure] allows us more management scale, as we can run things independently that aren't very related," Page said, according to USA Today.

As part of its announcement, Alphabet launched its flagship website, abc.xyz.

As Mashable reported, the new Alphabet website has a hidden link, located on the period that follows the sentence about its "drone delivery effort."

The link takes visitors to www.hooli.xyz, a parody site invoking jokes from the popular HBO series "Silicon Valley."

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Google created a new parent company, Alphabet Inc., which will be run by CEO Larry Page and co-founder Sergey Brin, the quickly evolving Internet search giant announced Monday.
google, alphabet, unbrella, corp
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2015-54-11
Tuesday, 11 Aug 2015 08:54 AM
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