Less than two month after a surprise announcement, the old Google as we knew it is no more. Zacks reports that the formation of the new holding company Alphabet is complete and Google is now just a subsidiary.
The new Alphabet parent company will continue to use Google´s stock market ticker symbols GOOG and GOOGL, so far the nostalgy. You can visit its new homepage under the quite funny URL abc.xyz.
Larry Page will be the new CEO of Alphabet, Sergey Brin president and Eric Schmidt Executive Chairman.
Ruth Porat is the CFO of the new Google subsidiary. CEO is Sundar Pichai, who from now on will lead business of the following Google divisions.
- Google Search
- Google Ads
- Google Infrastructure
Separate from Google are the following Alphabet subsidiaries who will be managed by different people:
- Calico (research on longevity)
Nest (smart thermostats and related products)
- Google Fiber (for high speed Internet access)
Life Sciences (contact lenses to test diabetes from tear drops, etc.)
- Google Capital
- Google Ventures (investments in startups)
Alphabet will start to report separate numbers for Google beginning in January 2016. The upcoming third-quarter financial results will be reported as before.