NEWS: Google to rebrand under new parent company ‘Alphabet’
Google is to rebrand under new holding company ‘Alphabet’ in a bid to make it ‘cleaner and more accountable’.
However, we’re not waving goodbye to Google just yet. The search engine will remain the largest company under Alphabet’s umbrella of brands that make up the organisation's portfolio – not just its internet brands.
By restructuring, Alphabet hopes to make its investments more transparent. As a result, it will be able to continue to innovate and take better advantage of the new opportunities available, such as its drone delivery effort.
In a blog post the company explained: 'We’ve long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes. But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant.'
Google’s current CEO Larry Page will become the CEO of Alphabet alongside partner Sergey Brin who will act as president of the new venture. Meanwhile, the company’s product chief Sundar Pichai will step up as CEO of Google.
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