Google recently announced one of its biggest restructures in the company's history.
The immense change sees the search engine we are so familiar with giving up ownership to a new parent company, Alphabet, along with the appointment of the CEO, rising star in Silicon Valley, Sundar Pichai. In one go, Google have completely metamorphasised, reflexively following its subtle goal of never becoming a standard, conventional company. They just seem to keep growing.
[Top photo: Ed-in-Chief's weak quasi-pun]
As the Internet's dominant web organisation, Google has recently taken riskier ventures into self-driven automotives, smart devices, and medical research, but Google itself (the search engine we know and love, along with the Drive, and Gmail) will remain Alphabet's core subsidiary. What does this mean for Google? It allows them, simply, to be flexible in how they allocate their resources, offering much greater transparency in the process.
So, let's break it down a little bit, to the key facts you need to know.
Google will remain Google. No freak-outs - the term that has become part of our slang vernacular faces no chances of abolition.
Alphabet will be operating as an umbrella company. New CEO Sundar Pichai will run Google as its major subsidiary.
Already, Google (sorry, Alphabet’s) share price has gone up 6%. In less than 24 hours. Alphabet in the meantime will still operate from the share title GOOG or GOOGL. No changes there.
Google has now become far more transparent. From shareholder, to CEO, this allows for a far greater insight into the business, hopefully meaning Google will continue to push forward as one of the most ethically consistent firms in the world.
Sundar will be operating what they are calling a ‘slimmed down’ Google. With a focus on innovation, I can’t imagine Google resting on their laurels any time soon. As for Alphabet, we will have to see how it pans out, but I for one think this is a good thing. Greater transparency for the consumer, greater management flexibility for the company, and I'm simply sitting here wishing I bought in on Google shares sooner.
At this point in time, check out this here Google Blog release for all the info available to the public.