Google unveils surprise restructuring under Alphabet
After 16 years, Google is to change its name to Alphabet, alongside a major restructuring.
The company will continue to operate as Google in most of the important ways, including the search engine that made it one of the world's biggest companies. It will also retain its apps, YouTube and Android. But it will operate a holding company named 'Alphabet'.
Alphabet will include not just Google but the company's huge array of other operations. That includes its life sciences operations, for instance, which is working on a special smart contact lens.
Splitting the company up and rearranging it under a new name will allow each of those different businesses to be run by different bosses. It will also allow it to report each of those businesses' results separately.
The company also said that its reorganisation would help it concentrate on its more speculative, experimental work, such as the X lab, which incubates new efforts like its drone delivery effort, as well as help it grow its investment arms, Ventures and Capital.
Said Google founder Larry Page,
"The whole point is that Alphabet companies should have independence and develop their own brands."
And in case you are wondering why “Alphabet”, the name was chosen for two reasons. It represents language – the core of Google’s search index – and because Alpha-bet also means "an investment return above benchmark ".
(All images - credit: Wikimedia Commons under Creative Commons licence)
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