By Sarah McArthur
On August 10, 2015, Larry Page announced that Alphabet Inc. would replace Google Inc. as the publicly-traded entity and that all shares of Google would automatically convert into the same number of shares of Alphabet. Google became a wholly-owned subsidiary of Alphabet.
What is Alphabet?
Alphabet is the completely restructured and renamed Google. It’s a collection of companies (the largest being Google), which include Calico, Google Inc., Google Ventures, Nest, and Fiber. Alphabet’s CEO is Larry Page. It’s President is Sergey Brin. Sundar Pichai is the new CEO of Google.
More importantly, why is Alphabet?
According to Page, it’s to give Google’s “side projects” more room to develop and thrive without interference. Google will be cut down — companies not directly tied to producing Google’s main products will no longer be part of Google, but will be contained in Alphabet instead. Stated Page, another reason for the new divisions is to make the company “cleaner and more accountable.”