On Monday, Google has announced that they are going to rebrand the company by creating a new holding company named Alphabet, whose biggest and largest owned subsidiary company will be Internet Search Engine giant Google.
This new Alphabet Company will own Google as well as many other organizations previously owned by Google. The companies, which is owned by Google till now but not related to Internet based product of Google, will from now owned by Alphabet. The CEO of Alphabet will be Larry Page, co-founder of Google, whereas Sergey Brin will be President. Product Chief of Google Sundar Pichai will become the CEO of Google.
About Alphabet Larry Page wrote on the blog, “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.”
In simple words, from now on Google will run the internet based product of Google like search engine, YouTube, Google Maps, Android etc, but the projects, which are not related to Internet services like Google Ventures, Nest, Google X, Google Fiber, Calico and Nest will be owned by Alphabet. The website address of the company is https://abc.xyz/.
“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 alsowrote.
This new move from Google will benefit them on focusing clearly on the purpose, deployment, response time and development speed on various subsidiaries owned by Google, which was not related to the internet services and it, will also allow Google to focus more and clearly on Internet based services.
This will also give clear perspective to the investors, who thought Google was too big and were handling so many things in one company. According to me, this new move of creating a new company and sliming Google down seems pretty smart and good move.