It is high time for Google to experience new transformations. The concern was founded in 1998 and new initiated changes are needed now to enhance the business activity of the company. The owners of such recognizable tools as Google search engine, Google Maps, YouTube, Chrome or Android decided to revolutionize the way of functioning of their companies. Our company has been functioning very well, however, we thought that it may function even better and be more profitable. Therefore, we decided to open a new company – "Alphabet" – informed co-founder and chairman of Larry Page on the official blog of Google.
The newly founded holding is supposed to support the company in developing of other projects – both strictly connected with searching for some contents in the Internet and those which go beyond the main area of company's activity such as e.g. Life Sciences project – lenses for diabetics equipped with a function of measuring of the level of glucose in tears.
Alphabet will include: Google Inc., to which the search engine belongs, Google Maps or YouTube as well as research and development biotechnological Calico company, Google Ventures and Google Capital investment companies and Google X research laboratory. All companies will be functioning independently. After restructuration, shares of Google companies will be automatically developed into shares of Alphabet.
The chairman of Alphabet will be a cofounder of Google – Siergiej Brin, whereas CEO – Larry Page. The chairman of the new Google will be Sundar Pichai who has been responsible for basic products of the concern since 2014. The foregoing financial chairman of Google – Ruth Porat will have the same position in the structures of Alphabet.