After announcing its biggest structural change in history, back in August, Alphabet has now officially replaced Google as the parent company of all other collection of companies, which were earlier a part of Google.
Alphabet will act as a holding company, comprising all of Google’s various companies, as well as the original search and services business.
Also, today will be the last day, when Google’s stock will be traded on NASDAQ.
On Monday, Alphabet shares of Class A Common Stock and shares of Class C Capital Stock are expected to commence trading on NASDAQ under the symbols “GOOGL” and “GOOG,” respectively, according to the filing.
So What exactly 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.
Good examples of ‘far afield’ companies includes Google’s health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity). Fundamentally, Google says that this allows it more management scale, as we can run things independently that aren’t very related.
Henceforth, Larry Page will helm Alphabet as its CEO and fellow co-founder Sergey Brin will be its President. Eric Schmidt will be donning the role of the Executive Chairman of Alphabet.