Google Announces New Operating Structure, Parent Company Alphabet

Aug 11, 2015

If you didn't already believe that the business of internet and media is always in flux, Google has surprised many by announcing a new operating structure that includes a parent company. Yes, one of the biggest companies in the world is changing its name...sort of. In a press release that reads more like a letter CEO Larry Page announced, "Our company is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet. I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President."

Alphabet will be made up of a collection of companies, including Google-but many of the companies that Google has acquired or created over the years that "are pretty far afield of our main internet products contained in Alphabet instead," according to Page. He points to forays into health related fields. The press release also says, "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."