Larry Page, announcing big changes at Google:
Our company is operating well today, but we think we can make it
cleaner and more accountable. So we are creating a new company,
called Alphabet. I am really excited to be running Alphabet as CEO
with help from my capable partner, Sergey, as President.
What is Alphabet? Alphabet is mostly a collection of companies.
The largest of which, of course, is Google. This newer Google is a
bit slimmed down, with the companies that are pretty far afield of
our main internet products contained in Alphabet instead.
Sundar Pichai will be the new CEO of Google.
Google itself is also making all sorts of new products, and I know
Sundar will always be focused on innovation — continuing to
stretch boundaries. I know he deeply cares that we can continue to
make big strides on our core mission to organize the world’s
information. Recent launches like Google Photos and Google Now
using machine learning are amazing progress. Google also has some
services that are run with their own identity, like YouTube. Susan
is doing a great job as CEO, running a strong brand and driving
incredible growth. […]
Alphabet Inc. will replace Google Inc. as the publicly-traded
entity and all shares of Google will automatically convert into
the same number of shares of Alphabet, with all of the same
rights. Google will become a wholly-owned subsidiary of Alphabet.
Our two classes of shares will continue to trade on Nasdaq as
GOOGL and GOOG.
So YouTube is a subsidiary of Google, which is a subsidiary of Alphabet, which trades under the symbol “GOOG”. Got it.
★ Monday, 10 August 2015