The company is getting restructured under the new parent company named as Alphabet and both co-founders will be looking after the set of companies. Google will be a reduced version in those companies but will be the largest one with the new CEO Sundar Pichai. Page is quite excited about the new portfolio as CEO of Alphabet and would run the new firm with the help of Sergey as President. In a blog post he revealed that the new step will make the company more accountable as well as cleaner and in technology industry for staying relevant one needs to be little uncomfortable.
Recently, Google had been ambitious for expanding its products beyond the search engine. Still the main business of Google is world dominating and generates over $50 billion annually. However, to increase the revenue the company is venturing into everything like smartphones, wearable devices, cars etc.
Alphabet will also be overseeing Google X, which is the research lab, other than Google. The famous video service YouTube and android will remain as division of Google.
The change is positive for Pichai specially who will be the new CEO for Google. It was announced by Page last year that his role in running daily operations of the company will be limited as he would like to utilizing his energy in company’s future and from that day onwards most of the operations were handed over to Pichai. These included the maps, android and search. Page is quite happy over the transition and feels fortunate that the new slimmed down Google will be run by a talented person like Pichai and this would allow him to get the more motivated things done in future.
Some of the new targets, which forced the creation of this new company are to empower the entrepreneurs to help flourish the companies, investing in opportunities with resources, making the transparency with oversight more enhanced, focusing more and making Google more better. Having achieved all the above targets would result in improved lives of people, which is the main aim of Google currently.
It was also revealed that the particular name Alphabet was chosen because it meant letters collection and represented a language which is the most significant innovation of humanity. The news of the new company received positive reaction among the investors and the stocks increased by over 6 percent.
Recently, Google had been ambitious for expanding its products beyond the search engine. Still the main business of Google is world dominating and generates over $50 billion annually. However, to increase the revenue the company is venturing into everything like smartphones, wearable devices, cars etc.
Alphabet will also be overseeing Google X, which is the research lab, other than Google. The famous video service YouTube and android will remain as division of Google.
The change is positive for Pichai specially who will be the new CEO for Google. It was announced by Page last year that his role in running daily operations of the company will be limited as he would like to utilizing his energy in company’s future and from that day onwards most of the operations were handed over to Pichai. These included the maps, android and search. Page is quite happy over the transition and feels fortunate that the new slimmed down Google will be run by a talented person like Pichai and this would allow him to get the more motivated things done in future.
Some of the new targets, which forced the creation of this new company are to empower the entrepreneurs to help flourish the companies, investing in opportunities with resources, making the transparency with oversight more enhanced, focusing more and making Google more better. Having achieved all the above targets would result in improved lives of people, which is the main aim of Google currently.
It was also revealed that the particular name Alphabet was chosen because it meant letters collection and represented a language which is the most significant innovation of humanity. The news of the new company received positive reaction among the investors and the stocks increased by over 6 percent.
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