1 | In a major reinvention of one of the world's most influential technology companies, Google announced Monday evening that it is reorganizing itself in the Berkshire Hathaway model. |
2 | The new company, essentially a holding company, will be called Alphabet, and it will be run by Google co-founders Larry Page and Sergey Brin. |
3 | As for the company we have come to think of as Google, the one with the search engine, maps, the Android operating system and YouTube, that will still be called Google - so people will not need to find a new word when they search for information on the Internet. |
4 | Google will be run by Sundar Pichai, who has been has been Google's senior vice president in charge of products. |
5 | In a blog post, Mr. Page said they picked the name Alphabet because it "means a collection of letters that represent language, one of humanity's most important innovations, and is the core of how we index with Google search!" |
6 | It will include companies "that are pretty far afield" from the main Internet products, like Calico, the life sciences effort; the Google Capital and Google Ventures investment arms, and Google X, the company's big-thinking lab that's working on things like self-driving cars and drones. |
7 | Shares of Alphabet - to keep things simple or to make them more confusing, depending on your viewpoint - will still trade under the letters GOOG and GOOGL. |
8 | The rethinking of the Mountain View, Calif. company acknowledges what many big tech companies are today - a collection of products and services, some wildly profitable, some not, gathered under one roof. |
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11 | 3. Google to Reorganize as Alphabet to Keep Its Lead as an Innovator 4. |