After D.R. markets shut on Friday, Alphabet will exchange Google because the publicly traded firm that may home Google’s search and Web promoting companies, maps, YouTube and its “moonshot” ventures resembling driverless automobiles.
For the uninitiated, Google will become Alphabet, which will own Google.
Google in August announced plans change its name to Alphabet in a previously announced restructuring.
“Google anticipates that shares of Google Class C Capital Stock and shares of Google Class A Common Stock will begin trading as Alphabet Class C Capital Stock and Alphabet Class A Common Stock, respectively, on the NASDAQ Global Select Market” on Monday, Google said in a post on its investor page. With this move, Google will shed all of its research projects, which aren’t money makers, and will concentrate on its Internet-based businesses, like search, which is a huge money maker.
Each business unit under the Alphabet umbrella will be run by a CEO, with Page and Brin determining their compensation.
Google, its headquarters seen here, is transforming itself into the Alphabet holding company. Ruth Porat, now the CFO of Alphabet, had said that she wanted to add more transparency to Google’s business.
Google says that at the end of business today, October 2, it expects that its Alphabet merger will be complete.
Legal analysts have also pointed out that the new holding company structure serves to further isolate the online advertising and search businesses, which are facing major legal challenges all across the globe, from the other more research-oriented divisions of the firm.
The reorganization should help Google focus on a few areas of its own, including the continued nurturing of YouTube and Android, which dominate their respective fields. Sundar Pichai, who has effectively been leading Google’s day-to-day operations, will step into the CEO role.