There is a new world order. A new Alphabet to the internet. A new era for a company that has been synonymous with information – in an unexpected move, Google has just rebooted its entire business model, creating a new holding company called Alphabet and making itself a subsidiary of that company.
Larry Page and Sergey Brin will be at the helm of Alphabet (an admittedly awesome name) as CEO and president of Alphabet, respectively. Sundar Pichai will be in charge of Google as CEO.
This does not mean that Google as we know it will disappear, however.
“… it is clear to us and our board that it is time for Sundar to be CEO of Google. 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. I have been spending quite a bit of time with Sundar, helping him and the company in any way I can, and I will of course continue to do that. Google itself is also making all sorts of new products, and I know Sundar will always be focused on innovation — continuing to stretch boundaries.” – Larry Page, now-CEO of Alphabet
The move is to reposition Google, which has for long deviated from the company’s core mission in organising and sorting information; after all, Google’s primary business in the end lies within its search and all the different businesses that run on top of it. In the recent years, Google has invested time, money, and effort into many strange ventures like Google-X autonomous cars and acquisitions such as Nest.
“Sergey and I are seriously in the business of starting new things. Alphabet will also include our X lab, which incubates new efforts like Wing, our drone delivery effort. We are also stoked about growing our investment arms, Ventures and Capital, as part of this new structure … Alphabet is about businesses prospering through strong leaders and independence. In general, our model is to have a strong CEO who runs each business, with Sergey and me in service to them as needed.”
Source: Google
