Google Restructures Under Parent Company 'Alphabet'
Alphabet Created As Parent Company For Google And Related Businesses
In the 11 years since it's IPO, Google has evolved from an Internet search company to one that broadened it's scope into areas from pharmaceuticals to drones.
In announcing the creation of Alphabet, Larry Page is seeking to create an umbrella company to administer "a collection of companies. The largest of which, of course, is Google." As he explains the new structure will allow companies that are far afield to be better managed with an independent focus with a strong CEO running each with himself and Sergey Brin being of service as required.
In addition to running Alphabet, Larry Page and Sergey Brin intend to spend time on it's startup incubator X Labs as well as their investment arms, Ventures and Capital, as part of this new structure.
For further explanation of the announcement read the NY Times article "Google Is Reorganizing Under a New Company Called Alphabet"