Google Rebrands

Here comes Alphabet

#Companies

Thu, Aug 13th, 2015 11:00 by capnasty NEWS

Possibly in response to the "psychological obstacle" people find in having Google products, now with their privacy marred by scandals, the search giant is restructuring its non-Google products into another brand, Alphabet, which will oversee things like "self-driving cars, drones, fiber-optic Internet service," and any other "moonshot" projects. Its core money-making business will remain branded as Google. Not everyone is impressed:

Google's reorganization into a conglomerate called Alphabet may provide more transparency to investors worried about Google's growing spending on so-called moonshot projects. It also shows the determination of Google founders, Larry Page and Sergey Brin, to distance themselves from the core business just when its business model is being challenged, which is less encouraging.

Through a convoluted legal process, Alphabet will become the owner of all Google stock and supersede it on the Nasdaq later this year, keeping the GOOG and GOOGL ticker symbols. The company that emerges will amount to a collection of frolicking mice and one bloated elephant. In his news release, Page didn't name all the subsidiaries that will make up his new corporate ABC, but, for example: C will stand for Calico, which is working on extending the human life span; L for Life Sciences (glucose- sensing contact lenses); X for X Lab (futuristic projects such as drone delivery); V for Ventures (investment in startups); and C for Capital, another investment arm. Wait, didn't we already have a C? G will unequivocally stand for Google -- the first line of the news release says so.

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