I was taken aback myself when I heard that Google is breathing its last as an independent entity. Don’t worry, the search engine isn’t going anywhere. It will stay, just like other products that have been developed under the Google brand. However, Larry Page (co-founder of Google and CEO of Alphabet) shared that Google is being restructured into a new holding company called Alphabet.
This should not come as a surprise to those who were aware of Sergey and Larry’s intentions of not making Google a “conventional company”. Google will no longer exist as an individual entity, but it will live on as the largest wholly owned subsidiary by the newly formed company. Till now Google has been working on a lot of different aspects, but without a properly structured entity, it has become difficult to provide adequate clarity to the investors. This was the main reason behind the creation of Alphabet.
Larry wrote, “We did a lot of things that seemed crazy at the time. Many of those crazy things now have over a billion users, like Google Maps, YouTube, Chrome, and Android. And we haven’t stopped there. We are still trying to do things other people think are crazy but we are super excited about. We’ve long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes. But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant. Our company is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet.”
Alphabet intends to help businesses prospering through strong leaders and independence. Every business under the Alphabet umbrella will be run by a CEO with Sergey and Larry providing the required support whenever needed. Capital allocation and work will be handled with greater care and efficiency, thereby ensuring better performance of the respective business. A good example of this is the recent appointment of Sundar Pichai as the new CEO of Google.
Other projects currently active in Alphabet are:
This project focuses on tackling age and extended human lifespan. Simply speaking, this project seeks to find the fountain of youth and give the gift of youth to mankind.
This is an ambitious project by Google which intends to bring super-fast 1 GB internet and cable television into homes at an affordable price. This project will be run separately, just like others.
- Nest Labs:
If you have ever imagined smart homes of the future, then Nest Labs has the capability to make all of that true. The project has changed the way we run our thermostats, smoke alarm and security cameras. With Tony Fadell as the CEO of Nest Labs, we can expect significant leaps in development and innovation.
- Google X:
This project is also going to be a part of Alphabet. Google X, just like the name suggests, houses some of the most secretive ventures of the company. With enhanced transparency provided by the new Alphabet venture, it seems that Google’s self-driving car, drone delivery project Wing and Google contact lenses will soon become a reality.
Colin Gillis, technology analyst at BGC Partners, said that the move would help investors to understand how their money is being spent and it will allow them to assess Google’s core business with greater clarity. “It’ll give people a truer picture of the nature and specifics of Google’s core operation,” he said. An immediate impact of the changes can be seen in Google which has “slimmed down”, making it easier to live up to expectations. Everything has become much better and productive for the company. Although, there is one hurdle which the company would have to cross. Users have become accustomed to the term “Google’ which has become synonymous with online search. Everyone refers to Google for searching anything and everything. It seems that they would have to get used to “Alphabet” for referring to the new Google.
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