Google’s Class A and C stocks will begin trading as Alphabet Class C Capital Stock and Alphabet Class A Common Stock, respectively, on the Nasdaq Global Select Market on Monday.
Mountain View-based Google announced in August that it was planning the change.
And so it is written: Google is about to become Alphabet.
Alphabet posted its new code of conduct for employees Friday afternoon and that famed phrase was notably absent, as first noticed by The Wall Street Journal’s Alistair Barr.
Google said that its long-awaited – and complicated – restructuring will happen at the end of the day on Friday. To make matters more confusing, it seems these shares will be traded under the same GOOG stock ticker symbol.
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. “Non-Google companies under Alphabet need to show a few things – like they need to enable innovation and autonomy”.
The goal: to free Google cofounder and CEO Larry Page up from running the business day-to-day so he could brainstorm the next Google.
Before the reorganization, everything the company was working on – search, Android, Chrome, Google Glass, robotics, driverless cars, drones and even smart contact lenses fell under the Google corporate umbrella. Sundar Pichai will head Google. Other companies under Alphabet’s control will be Nest, the connected home products company; Fiber, Google’s high-speed Internet service; Google Ventures and Google Capital.
The move gives the tech giant more ability to focus on its core business, while offering startup-like flexibility to long shot, trailblazing projects.