It’s official! Google becomes Alphabet Inc today onwards

Paperwork is filed and Google has restructured itself into Alphabet

San Francisco, Oct 4: Do you remember when was the search engine giant Google announced to create new parent company called ‘Alphabet Inc’? Its was in August 11, and barely two months later guess what has happened. Its official now. ‘Google’ becomes ‘Alphabet Inc’ from October 2 onwards. Well if you don’t believe, here is what all you need to know.

As per to the confirmed reports, the paperwork is filed and yes the Google has made it official — Google has restructured itself into Alphabet. With this, Alphabet would focus on high speed internet — Google Fiber, health — Calico and Life Sciences, investments — Google Capital and Google ventures, home automation — Nest, and everything fun like self driving cars and city-wide Wifi — Google X. While Google will continue working on Android, Search, YouTube, Apps, Maps and Ads under the chairmanship of Sundar Pichai. (Also Read: #Alphabet: Google launches new collection of companies; Google to become wholly owned subsidiary of Alphabet)

Larry Page, who is a co-founder and ex-CEO of Google Inc, will lead the new company while Sergey Brin, the other co-founder, will serve as president. Indian-born Sundar Pichai, who is the current CEO of Google, had been running Android and Chrome. So now onwards, the company that used to be called Google will be called Alphabet. Shareholders will get one Alphabet share for every Google share they previously owned.

Now for new comers, whats Alphabet? Here you go.

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“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,” wrote Larry Page on the official blog of Google. “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,” he wrote further. Visit the website here. (Also Read: Sundar Pichai named new CEO of restructured Google)

And for some one who wants to know WHY? Here is the answer by Larry Page himself.

“We liked the name Alphabet because it means a collection of letters that represent language, one of the humanity’s most important innovations, and is the core of how we index with Google search!” said Page.