Today in confusing tech news, Google has a new, self-created parent company. And for some reason, they’ve named it Alphabet.
Google co-founder Larry Page wrote that the reason for this shift was to separate Google’s operations that weren’t Internet-related to other companies under the Alphabet umbrella, and allow for more management scale overall. The new “slimmed down” Google will operate completely as a subsidiary of Alphabet, with current Google, Inc. stock being converted into shares under the new parent company on NASDAQ.
Practically, Page and company are separating divisions like Life Sciences, which is developing “glucose-sensing contact lenses” and Calico, which is focused on researching aging from the current Google (for a complete lineup of what’s leaving the new Google, check out this list on the New York Times). The new Google will retain search, advertising, Maps and Android. YouTube will also continue as a Google subsidiary under CEO Susan Wojcicki’s stewardship.
As for Alphabet’s top managers, Page will become CEO of that company, with Sergey Brin becoming President. Sundar Pinchar will take over as Google CEO.
Alphabet so far has a bare bones website at the snazzy URL http://abc.xyz, with an easter egg contained therein (click after “drone delivery effort”).