A New Company Called Alphabet Now Owns Google

[Blade of Grass]

GOOGLE HAS REORGANIZED itself into multiple companies, spinning off several of its most ambitious projects alongside its core Internet business under a new umbrella company called Alphabet.

 

“What is Alphabet? Alphabet is mostly a collection of companies. The largest of which, of course, is Google,” Google co-founder Larry Page said in a blog post this afternoon. “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.”

In other words, Google will continue to run internet-centric services such as Google Maps, YouTube, Chrome, and Android. But “moonshot” projects such as its X Lab and its Calico life extension project will operate as somewhat separate entities.

“Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related. Alphabet is about businesses prospering through strong leaders and independence,” Page wrote.

Via: WIRED

 

Interesting idea, not too sure how this 'new' owner will affect how Google is run, but I'm willing to see what happens.

 

Here is the new company's website: https://abc.xyz/

The website contains the same press release as their blog page.

EDIT: just noticed something at the bottom of the article

According to Page’s post, Alphabet will eventually report earnings of Google separate from the other spinoff companies. For the moment, according to the company’s SEC filing, Alphabet will eventually replace Google as the publicly traded company on the Nasdaq stock exchange, and all shares of Google will convert to shares of Alphabet. Company shares will continue to trade on the Nasdaq under the same GOOGL and GOOG ticker symbols.

Great Tl;dr

• Larry Page, Co-Founder & Ex-CEO of Google Makes New Parent Company for Google: Alphabet
• Larry Page now CEO of Alphabet
• Sundar Pichai (Worked on Creating Gmail, Maps, & Android) is appointed the CEO position for Google
• Alphabet is a company with divisions like google, android, youtube, nest...

[STRMfrmXMN]

Wow, what? Isn't Google basically the god of the internet? It's a little weird to me that they can simply be acquired...

EDIT: Oh, this is a Google project thing, I see.

[Fetzie]

Spinning off companies to stop the FTC throwing the anti-monopoly rulebook at Google and the IRS from auditing their books?

[Biggerisbetter]

Heard a rumor about this a week ago and got myself some options. A very nice move of 5% on after hours trading. Making a holding company is a nice way to avoid paying taxes.   

[Guest]

Wow, what? Isn't Google basically the god of the internet? It's a little weird to me that they can simply be acquired...

 

 

GOOGLE HAS REORGANIZED itself into multiple companies, spinning off several of its most ambitious projects alongside its core Internet business under a new umbrella company called Alphabet.

[Nineshadow]

Wow, what? Isn't Google basically the god of the internet? It's a little weird to me that they can simply be acquired...

They weren't acquired.

Alphabet was made by Google basically.

[ilikemacandpc]

This isn't some weird google prank? Like topeka? It's real?!?!?

[Syntaxvgm]

This is the beginning of the end for people who look up to google's practices. 

[RagnarokDel]

reads like a scheme to save a buck on taxes.

[Guest Johnny5g]

do they really own google?

[Notional]

Conglomorate 101.

[othertomperson]

So what you're saying is that Google has been reorganised into the First Galactic Empire?

[TopWargamer]

Just read this too and was about to post about it.

 

So basically... Google created another Google to own Google in order to let a new CEO come in while letting the former CEO still be CEO. 

https://puu.sh/jwLhE/3d81992ae9.webm

[harrynowl]

I suppose it is a way of breaking down what Google does for the public, as to many people 'Google' means a search engine, but 'Google' actually covers android, search engines, self driving cars, advertising, youtube etc so 'Google' is almost too vague a term. Along with some tax savings I guess.

[Leonard]

Guy...please make better titles that the one you made.....i almost pushed the..........

[byalexandr]

So Google is so rich they bought themselves?

[CydiaDash]

-snip-

Probably just a way to avoid certain taxes or something

 

Also, that title is so misleading, it's the same people

[Deletive]

This is going to be great, breakdown of google itself into (almost) single entities.

[Blade of Grass]

Guy...please make better titles that the one you made.....i almost pushed the..........

Probably just a way to avoid certain taxes or something

 

Also, that title is so misleading, it's the same people

I just copied the title from the WIRED article

[Arty]

Spinning off companies to stop the FTC throwing the anti-monopoly rulebook at Google and the IRS from auditing their books?

i don't mind.

[Lazmarr]

I just copied the title from the WIRED article

I would edit it....it's a little bit clickbait/misleading...it sounds as if a company bought out Google

[Briggsy]

Great for keeping Europe on it's toes and looking silly. Now we will see News Headlines reading "EU Fines the Alphabet for 100 Million Euros." 

[That Norwegian Guy]

Just trying to weasel its way out of EU and FTC scrutiny... Which will fail in the prior case and succeed in the latter case.

[Yog]

This is like reclassifying a species in another genus. It's still the same animal.

[Guest]

So they've finally acknowledged that people mainly use Google to find out how to spell difficult words and are rebranding accordingly.