GOOGLE: NOW OWNED BY ALPHABET

In a statement released on the 10^th of August, 2015, Segrey stated that in the original founders letter 11 years ago, it was stated that “Google is not a conventional company. We do not intend to become one.”  They have gambled on some businesses like Google Maps, Youtube, Chrome and Android which has amassed  billions of users.

In it’s bid to make  it cleaner and more accountable, it has decided to create a new company called Alphabet(http://abc.xyz).  The Google guys, Larry Page and Serge Brin would would run Alphabet as CEO and President repectively.

You might be as surprised as I am at the choice of name but Larry spoke on adopting the name alphabet:

We liked the name Alphabet because it 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! I should add that we are not intending for this to be a big consumer brand with related products–the whole point is that Alphabet companies should have independence and develop their own brands.

Alphabet is going to be a collection of companies of which he largest is Google. The new google would be slimmed down with companies that a far afield of the main Internet products contained in Alphabet instead. Basically, the companies under the far afield categories would include their health efforts: Calico and so on.

There would be various CEO’s for different companies to enable the independence of the companies while the Alphabet heads would be at their disposal.

This new development would give way for Sundar Pichai to become the CEO  of Google.

Talk about Google monopoly, all those thoughts have just been tossed into the trash can.

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, the two classes of shares will continue to trade on Nasdaq as GOOGL  and GOOG