Google's parent company was renamed Alphabet Inc. in 2015, a move that might have left you wondering, "Why is Google called Alphabet now?" The reason behind this change is rooted in the company's growing ambitions and diversified business ventures.
Google's founders, Larry Page and Sergey Brin, wanted a new name to reflect the company's expanded scope beyond just search and advertising. They decided to create a new parent company, Alphabet Inc., which would oversee Google and other subsidiaries.
Alphabet Inc. was named after the first and second letters of the Greek alphabet, alpha and beta.
Renaming and Rebranding
Google, the tech giant, is no longer just Google. It's now a part of a larger company called Alphabet. This change was announced in August 2015 by CEO Larry Page.
Alphabet is a conglomerate that includes Google, but also other companies like Calico and Google X. These companies will operate independently and have their own CEOs.
Google's scope has been reduced to focus on internet services like search, Chrome, and Android. Sundar Pichai, who was previously Product Chief at Google, is now the CEO of the Google branch.
The name change was made to give these companies more autonomy and flexibility. Larry Page explained that Alphabet is not meant to be a big consumer brand with related products.
The company's leadership will be overseen by Page as CEO and Brin as President. They will be responsible for allocating capital to each company and hiring and advising their CEOs.
The restructuring was done to make the company cleaner and more accountable. Page stated that he is excited to be running Alphabet as CEO.
The name Alphabet is a play on words, with "alpha-bet" also referring to a good return on investment.
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