Google gets new CEO – Sundar Pichai – as the search company becomes division of Alphabet Inc. Yesterday Google announced about the new holding company – Alphabet.
“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 http://abc.xyz
I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President.” said Lary Page.
What is Google Alphabet?
“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. What do we mean by far afield? Good examples are our health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity).”
Page explained that their model is to have a strong CEO who runs each business inside Alphabet Inc, with Sergey and him in service to them as needed.
Alphabet Inc will consist of the following entities: Calico, Fiber, Google (Search, Maps, YouTube, Android, Ads, Apps), Google Ventures, Google Capital, Google X (auto-driving cars, Google Glass, internet by balloon, moonshots), Life Sciences (the glucose sensing contact lens people), Nest (smoke alarms, home camera, thermostats & connected home devices).
From my perspective it’s an interesting move and the beginning of more world changing innovations and inventions.
Page expressed their excitement about getting more ambitious things done: “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.”
Why did they name the company Alphabet? Here’s now Page explains it: “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!”
The world is undoubtedly excited about this change, anticipating more important things to get done.