Google is being bought by a new company called Alphabet, by Google cofounders Larry Page and Sergey Brin. Page is to become CEO of the new Alphabet, Brin his president and Sundar Pichai, formally senior vice president of Android, Chrome and Apps at Google, takes over as Google CEO.
Alphabet will be replacing Google as the traded entity, with all shares of Google converting to Alphabet stock. It will still be known as GOOG and GOOGL, however. The company has also filed a Form 8-K here with the US Securities & Exchange Commission, outlining its plans.
YouTube, Android, Ads & More Remain Part Of Google
From the filing, Google will retain control of at least these business units:
It will also keep control of unspecified technical infrastructure.
What’s Part Of Alphabet?
What makes up the alphabet of the new Alphabet? From the filing and blog post, Alphabet includes
- Calico (the folks who want you to live forever)
- Fiber (high speed internet)
- Google (Search, Maps, YouTube, Android, Ads, Apps)
- Google Ventures (venture capital business)
- Google Capital (investment fund)
- Google X (auto-driving cars, Google Glass, internet by balloon, moonshots)
- Life Sciences (the glucose-sensing contact lens people)
- Nest (smoke alarms, home cameras, thermostats & connected home devices)
It’s unclear where many other things will go. Project Fi, Google’s virtual mobile network, for example. Will that stay part of Google or roll under Alphabet? That’s not been made clear.
Perhaps the biggest surprise is that YouTube — which has its own CEO in the form of long-time Googler Susan Wojcicki — hasn’t been rolled out from under Google.
It might be that after the initial transition, this and other spin-outs could happen.
Alphabet’s New Management
Alphabet’s new management structure is effectively hijacking all of Google’s old management structure and will be like this:
- CEO: Larry Page
- President: Sergey Brin
- Executive Chairman: Eric E. Schmidt
- CFO: Ruth Porat
- Senior Vice President, Corporate Development, Chief Legal Officer & Secretary: David C. Drummond
Google’s New CEO: Sundar Pichai
Over at Google, the big management change is Pichai taking over as CEO. He’ll be only the third person to ever occupy that role at Google. Page was the first CEO, then Schmidt, then Page returned to it. Pichai has been widely praised as a sensible, no-nonsense executive who gets stuff done.
Aside from Pichai, Porat will remain CFO at Google in addition to her new role in that job at Alphabet. Other changes haven’t been announced.
Google’s chief business officer Omid Kordestani will be leaving that position and taking up a new post as advisor to both Alphabet and Google.
Very interesting stuff.. this means they are dead serious about the moonshots! Esp. excited for the anti-aging company – Calico. Who knows? They may beat death :))
This means the markets wanted to see how much money Google was throwing into the moonshots 🙂
Google has a lot of money so it can do ambitious things 🙂
WOOT… Alphabet! http://abc.xyz owns +Google now!
Congrats +Sundar Pichai as CEO of Google
Google Corporate Restructuring
What is Alphabet? Alphabet is mostly a collection of companies. The largest of which, of course, is Google. 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. What do we mean by far afield? Good examples are our health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity).
This is an interesting and bold move from my perspective. It tells me that Google is clearly the division of ‘now’ but that it may not be the division of the future.
Google OS via Google+1 hour ago (edited) – Shared publicly
A new company is born and it’s called Alphabet. It’s Google and a collection of companies owned by Google, like Life Sciences and Calico.
“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.”
I’ve not been keeping up with current news, what happened to Eric Schmidt?
Wow, HUGE congratulations to +Sundar Pichai. Such a worthy successor to the Google hot seat. And huge congrats to +Tom Oliveri and +Lily Lin (and their amazing teams) for whom I know this will mean many great things. Very exciting times. And I, for one, love the new name. Very clever. Nice work +Larry Page +Sergey Brin and +Eric Schmidt. Can’t wait to see what’s next!
Matt Uebel via Google+1 hour ago – Shared publicly
It’s astonishing to be reminded that their IPO was just 11 years ago…
Cristian Lorenzutti via Google+17 minutes ago – Shared publicly
OMG! (here as well “G” is for “Google”)
Congratulations to +Sundar Pichai for his new role as CEO of Google! Good luck!
I also want to express my gratitude to +Larry Page and +Sergey Brin for their efforts to improve the human condition. Thank you so much! See you in a few years in the metaverse.
What’s your thoughts
Breaking news of the day..
Google is going to be under a newly formed company Alphabet and Sundar Pichai will be new CEO of Google.
Jason ON via Google+54 minutes ago – Shared publicly
Normally I don’t share links that have been shared a gazillion times over, but I wanted to make a point.
I wonder which tech writers are going to claim Google (no plus) is dead?