Google splits into Google and Alphabet
Posted on: 05/Oct/2015 10:47:04 AM
Alphabet has now replaced Google as a publicly traded company. Alphabet will own Google`s search engine and web advertising businesses, in addition to maps and YouTube. It will also run connected home products maker Nest, venture capital arm Google Ventures, and Google Capital, From Monday, Alphabet`s Class A and Class C shares will replace Google`s Class A and Class C shares while trading at Nasdaq. However, the ticker symbols will remain the same.
The intent of this move, as announced earlier this year, is to differentiate between the company`s core businesses (which remain as Google) and other innovative businesses (now called Alphabet) such as driverless cars, glucose monitoring contact lenses and the internet connected high altitude balloons. Alphabet will also own Sidewalk Labs which will work on improving city infrastructure.
While Google will be tun by Sundar Pichai, Alphabet will be taken over by Larry Page, a co founder of Google.
