After the markets close today, Google will officially become Alphabet.
Back in August, Google announced a large restructuring of its company, and as a result, Alphabet will become the new parent company of all of the Google products. the well-known Google applications, like search, YouTube, and Google Maps, will not change, but will now be under this new company (Which is a relief, because it would be harder to say “I’m going to Alphabet what the capital of Sri Lanka is, instead of using Google as a verb).
CNNMoney released a diagram showing the new company dynamic, and the new companies that Alphabet has in store, such as Calico, a company for disease research, Fiber, for fast internet, and the mysterious Google X which is relatively unknown right now.
Alphabet is not intended to be a consumer-based company so there will not be a lot of news about it to the general public in coming months. Sharing will still be under the GOOGL ticker, but will be trading as Alphabet starting October 5th.
Sundar Pichai was announced as the new Google CEO. Picchai worked with the Chrome and Google Toolbar team since 2004, and was then given almost all control of Google Application with the exception of YouTube. As CEO he will now oversee YouTube as well.
Overall, there will not be many changes on the outside to consumers as of right now, but many on the inside.