Google Announces Big Changes for the CompanyBy Dania Vargas Austryjak
Alphabet, the new parent company
Google, the tech giant that has given the world an impressive search engine, Google Maps, YouTube, Chrome, and Android; has announced that a new company is here to put a roof over the head of Google and all of its subsidiary companies… Enter Alphabet.
Larry Page, now the former CEO of Google, announcedthe restructuring of the unconventional company on Google’s blog and on Alphabet’s site, stating a number of reasons on why they are taking these actions, and why now. Page started by saying that they are looking to have a “cleaner and more accountable” company, with Alphabet now acting as the parent company of all the subsidiaries. Or, as he puts it, “a collection of companies.”
The core of Alphabet is to promote independent and prosperous businesses, each of them led by strong CEOs. This structure will allow Google to focus more on its own projects, which will now be led by new CEO Sundar Pichai, the former head of Google’s Android and Chrome divisions. “I feel very fortunate to have someone as talented as he is to run the slightly slimmed down Google and this frees up time for me to continue to scale our aspirations,” stated Page on a company communiqué.
This move has been characterized as a way to keep the company fresh and current, as it wouldn’t want to be held back to face a world evolving around it. Google has always been focused on innovation and executives believe this will continue stretching their boundaries, as explained on Page’s announcement.
As for the users, there’s nothing to worry about. Google will still be there as functional as always. The step is more of a managing approach. Names might change but their services most likely will remain the same and improve in the future, as we know that is what Google does best.
As far as the name “Alphabet” goes, several theories have been heard circling around. Page has provided several reasons; one being that “Alphabet” is a “collection of letters that represent language.” He also said that “Alpha” is a financial term meaning return of investments above the benchmark, which is something the company strives for.
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