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'''Alphabet Inc.''' is a proposed [[holding company]] and [[conglomerate (company)|conglomerate]] that will directly own several companies that were owned by or tied to [[Google]], including Google itself.<ref name="aol">{{Cite web|title=Google to be part of new holding company, 'Alphabet'|url=http://www.aol.com/article/2015/08/10/google-to-be-part-of-new-holding-company-alphabet/21220854/|accessdate = August 11, 2015}}</ref><ref name="gIsForGoogle">{{Cite web|url=http://googleblog.blogspot.com/2015/08/google-alphabet.html|title=G is for Google|publisher=Google Official Blog|last1=Page|first1=Larry|accessdate= August 11, 2015}}</ref> The company will be based in [[California]] and be headed by Google's co-founders, [[Larry Page]] and [[Sergey Brin]], with Page serving as [[CEO]] and Brin as [[President (corporate title)|President]].<ref name="bloomberg2015">{{cite news|last1=Womack|first1=Brian|title=Google Creates New Company Called Alphabet, Restructures Stock|url=http://www.bloomberg.com/news/articles/2015-08-10/google-to-adopt-new-holding-structure-under-name-alphabet-|accessdate=August 10, 2015|agency=Bloomberg|date=August 10, 2015}}</ref> Alphabet's portfolio will expand through several industries, including technology, life sciences, investment capital, and research. Some of its subsidiaries will include Google, [[Calico (company)|Calico]], [[Google Ventures]], [[Google Capital]], [[Google X]], and [[Nest Labs]]. Following the restructuring Page will become CEO of Alphabet while [[Sundar Pichai]] will take his position as CEO of Google.<ref name="aol" /><ref name="gIsForGoogle" /> Shares of Google's stock will then be converted into Alphabet, which will trade under Google's ticker symbols of "GOOG" and "GOOGL".
'''Alphabet Inc.''' is a proposed [[holding company]] and [[conglomerate (company)|conglomerate]] that will directly own several companies that were owned by or tied to [[Google]], including Google itself.<ref name="aol">{{Cite web|title=Google to be part of new holding company, 'Alphabet'|url=http://www.aol.com/article/2015/08/10/google-to-be-part-of-new-holding-company-alphabet/21220854/|accessdate = August 11, 2015}}</ref><ref name="gIsForGoogle">{{Cite web|url=http://googleblog.blogspot.com/2015/08/google-alphabet.html|title=G is for Google|publisher=Google Official Blog|last1=Page|first1=Larry|accessdate= August 11, 2015}}</ref> The company will be based in [[California]] and be headed by Google's co-founders, [[Larry Page]] and [[Sergey Brin]], with Page serving as [[CEO]] and Brin as [[President (corporate title)|President]].<ref name="bloomberg2015">{{cite news|last1=Womack|first1=Brian|title=Google Creates New Company Called Alphabet, Restructures Stock|url=http://www.bloomberg.com/news/articles/2015-08-10/google-to-adopt-new-holding-structure-under-name-alphabet-|accessdate=August 10, 2015|agency=Bloomberg|date=August 10, 2015}}</ref> Alphabet's portfolio will expand through several industries, including technology, life sciences, investment capital, and research. Some of its subsidiaries will include Google, [[Calico (company)|Calico]], [[Google Ventures]], [[Google Capital]], [[Google X]], and [[Nest Labs]]. Following the restructuring Page will become CEO of Alphabet while [[Sundar Pichai]] will take his position as CEO of Google.<ref name="aol" /><ref name="gIsForGoogle" /> Shares of Google's stock will then be converted into Alphabet, which will trade under Google's ticker symbols of "GOOG" and "GOOGL".


The establishment of Alphabet as a conglomerate of Google companies was motivated by its executives, who felt that Google had to become "cleaner and more accountable" while allowing greater control of companies whose core business was unrelated to it.<ref name="gIsForGoogle" /><ref name="wire-2015-new-company" />
The establishment of Alphabet as a conglomerate of Google companies was motivated by its executives, who felt that Google had to become "cleaner and more accountable" while allowing greater control of companies whose core business was unrelated to it.<ref name="gIsForGoogle" /><ref name="wire-2015-new-company" />

Revision as of 19:18, 1 September 2015

Alphabet Inc.
Company typeProposed conglomerate and public holding company[1]
Industry
Founders
Headquarters
United States
Key people
Revenue307,394,000,000 United States dollar (2023) Edit this on Wikidata
84,293,000,000 United States dollar (2023) Edit this on Wikidata
73,795,000,000 United States dollar (2023) Edit this on Wikidata
Total assets365,264,000,000 United States dollar (2022) Edit this on Wikidata
Number of employees
190,234 (2022) Edit this on Wikidata
Subsidiaries
Websiteabc.xyz

Alphabet Inc. is a proposed holding company and conglomerate that will directly own several companies that were owned by or tied to Google, including Google itself.[2][3] The company will be based in California and be headed by Google's co-founders, Larry Page and Sergey Brin, with Page serving as CEO and Brin as President.[4] Alphabet's portfolio will expand through several industries, including technology, life sciences, investment capital, and research. Some of its subsidiaries will include Google, Calico, Google Ventures, Google Capital, Google X, and Nest Labs. Following the restructuring Page will become CEO of Alphabet while Sundar Pichai will take his position as CEO of Google.[2][3] Shares of Google's stock will then be converted into Alphabet stock, which will trade under Google's ticker symbols of "GOOG" and "GOOGL".

The establishment of Alphabet as a conglomerate of Google companies was motivated by its executives, who felt that Google had to become "cleaner and more accountable" while allowing greater control of companies whose core business was unrelated to it.[3][5]

History

On August 10, 2015, Google Inc. announced plans to create a new public holding company, Alphabet Inc. Google CEO Larry Page made this announcement in a blog post on Google's official blog.[3] Alphabet will be created to restructure Google by moving subsidiaries from Google to Alphabet, narrowing Google's scope. The company will consist of Google Inc., Nest Labs, and Calico, as well as other businesses including Google X, Google Capital, and Google Ventures.[4][6][7] Sundar Pichai, current Product Chief, is to become the new CEO of Google, replacing Larry Page.[8][9]

In his announcement, Page described the planned holding company as follows:[3]

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. [...] Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related.

As well as explaining the origin of the company's name:

We liked the name Alphabet because it means a collection of letters that represent language, one of humanity's most important innovations, and is the core of how we index with Google search! We also like that it means alpha‑bet (Alpha is investment return above benchmark), which we strive for!

Page says the motivation behind the reorganization is to make Google "cleaner and more accountable." He also said he wanted to improve "the transparency and oversight of what we’re doing," and to allow greater control of unrelated companies.[3][5]

.xyz Domain

Google has chosen the domain abc.xyz with the newer .xyz top-level domain, which was rolled out in 2014. This may be[original research?] because it does not own the domain alphabet.com, which is owned by a fleet management division of BMW. BMW has said that it is "necessary to examine the legal trademark implications" of the proposals.[10][11][12] The August 10, 2015 announcement revealing Alphabet included a hidden hyperlink to hooli.xyz, one of the other few websites on the .xyz TLD; the website was created for the HBO comedy series Silicon Valley.[13]

Structure

Proposed Alphabet Inc. company structure

Alphabet's largest subsidiary will be Google Inc., but Alphabet will also be the parent company to Calico, Google Ventures, Google Capital, Google X, Google Fiber, and Nest Labs. While many companies or divisions formerly a part of Google will become subsidiaries of Alphabet, Google will remain the umbrella company for Alphabet's Internet-related businesses. These include many of the most iconic products and services long associated with Google, such as the Android mobile operating system, YouTube, and Google Search, which will remain direct components of Google Inc. and will not be made subsidiaries of Alphabet.[4][14]

Process

To start the restructuring process, Alphabet will be created as a subsidiary directly owned by Google Inc. The roles of these two companies – one as the owner and the other as the subsidiary – will then be reversed in a two-step switch. First, a dummy subsidiary of Alphabet will be created. Then Google will merge with that dummy subsidiary while converting Google stock to Alphabet stock. The post-merger subsidiary, no longer a dummy, will change its name to "Google Inc." Alphabet will retain Google Inc.'s stock price history and continue to trade under Google Inc.'s ticker symbols "GOOG" and "GOOGL". Under Delaware law, a holding company reorganization such as this can be done without a vote of shareholders, as this reorganization will be.[15]

References

  1. ^ "Google Rebrands As Alphabet". Forbes. Retrieved August 11, 2015.
  2. ^ a b "Google to be part of new holding company, 'Alphabet'". Retrieved August 11, 2015.
  3. ^ a b c d e f Page, Larry. "G is for Google". Google Official Blog. Retrieved August 11, 2015.
  4. ^ a b c Womack, Brian (August 10, 2015). "Google Creates New Company Called Alphabet, Restructures Stock". Bloomberg. Retrieved August 10, 2015.
  5. ^ a b Metz, Cade. "A New Company Called Alphabet Now Owns Google". Wired. Condé Nast. Retrieved August 13, 2015.
  6. ^ Greenberg, Julia (August 10, 2015). "What Google, I Mean Alphabet, Looks Like Now". Wired. Condé Nast. Retrieved August 10, 2015.
  7. ^ "What is Alphabet, Google's new company?". Business Insider. Retrieved August 10, 2015.
  8. ^ Chen, Angela (August 10, 2015). "Google Creates Parent Company Called Alphabet in Restructuring". Wall Street Journal. Retrieved August 10, 2015.
  9. ^ Conor Dougherty (August 10, 2015), Google to Reorganize in Move to Keep Its Lead as an Innovator, New York Times, retrieved August 10, 2015
  10. ^ Davidson, Lauren. "Google unveils Alphabet... but that's already trademarked by BMW". Daily Telegraph. Retrieved August 12, 2015. {{cite web}}: Italic or bold markup not allowed in: |website= (help)
  11. ^ Sohail, Khan. "Google is Now "Alphabet" but it Doesn't Own "Alphabet.com"". Pakistan Career Counsel. Sohail Imran Khan. Retrieved August 11, 2015.
  12. ^ Lardinois, Frederic (August 10, 2015). "Google Is Now Alphabet, But It Doesn't Own Alphabet.com". TechCrunch. AOL Inc. Retrieved August 11, 2015.
  13. ^ Stephen Pulvirent (August 11, 2015), "Here's the hidden joke in Google's letter announcing Alphabet", Sunday Morning Herald, retrieved August 10, 2015
  14. ^ "Google's new Alphabet, from A to Z (pictures) - CNET". CNET. Retrieved August 12, 2015.
  15. ^ "Google Inc. filing with the SEC, Form 8-K". United States Securities and Exchange Commission. August 10, 2015. Retrieved August 11, 2015.
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