Google has changed its name to Alphabet

Google’s reshaping under newly formed parent Alphabet gives the tech giant more ability to focus on its core business, while offering startup-like flexibility to long shot, trailblazing projects.

Analysts said the move may also be a nod to Wall Street demands for more fiscal accountability: As part of the reorganization, Page said the company will begin reporting financial results by segments. He said it was because it represents (1) language, which is a human innovation; (2) the main method used for indexing with Google search; and (3) “Alpha” returns on investment – if broken down, the name spells out “alpha-bet”, meaning returns above the benchmark.

Perhaps it was inevitable given the myriad business interests and technology fields Google has been so eager to get its hands on.

When viewed all together, it’s certainly remarkable how many varying and ambitious endeavors Google is now involved in.

Practically out of nowhere, Google yesterday announced that it was restructuring the entire company and renaming itself Alphabet. Other departments spinning off into their own sub-companies include Life Sciences, the Google X lab, Wing (drones), and Google Ventures and Google Capital. Page will be CEO and Brin will be president of Alphabet.

Alphabet Inc. will replace Google 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. As for Google, which he was previously heading, the company will now be headed by Sundar Pichai, previously chief product officer at Google. Google co-founder Larry Page will step down as Google’s chief and Pichai was appointed as head of a “slimmed-down” version of the company.

“Our company is operating well today, but we think we can make it cleaner and more accountable”, he wrote.

BMW said it had not been contacted by Google before the surprise announcement of the new parent company.

“They’ll report line items for advertising revenue, search revenue, YouTube revenue”.

“Larry and Sergey have quite clearly been increasingly uninspired by merely running a search engine and advertising business, and this finally aligns their job titles with what they actually want to spend their time doing”, Dawson said in a blog post. As part of the transformation, Google’s varying divisions will be split up into wholly owned subsidiaries under the Alphabet umbrella.

The structure was announced after the close of stock market trading.

Little did he know that one of the world’s most powerful tech companies would also adopt the name.