Goodbye Google, hello Alphabet
It’s not 1 April, but I did have to check a couple of times before I started writing this. Google really has decided that one of the best-known brand names in the world is no longer good enough, and has decided to form a new holding company called Alphabet. Its largest subsidiary will be Google.
The news appeared in a
The news appeared in ashock blog post written by co-founder Larry Page, where he wrote, “As Sergey and I wrote in the original founders letter 11 years ago, ‘Google is not a conventional company. We do not intend to become one.’”
“As part of that, we also said that you could expect us to make ‘smaller bets in areas that might seem very speculative or even strange when compared to our current businesses’. From the start, we’ve always strived to do more, and to do important and meaningful things with the resources we have.”
Page explained how products far removed from the company’s core internet roots would become Alphabet-branded instead. This would include their Life Sciences and Calico products.
On the stock market, Alphabet Inc will replace Google Inc shares, although it will continue to trade under the ticker symbols of GOOG and GOOGL.
So why Alphabet? I’d like to pretend that imitation is the sincerest form of flattery, but sadly the truth is a little more clever than that. “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,” explained Page. “We also like that it means alpha-bet (Alpha is investment return above benchmark), which we strive for!”
“Don’t worry, we’re still getting used to the name too,” Page’s post concludes. I’m glad I’m not the only one.