Google is an American Multinational Corporation that specializes in Internet-related services and products. These include online advertising technologies, search, cloud computing, software, and hardware. Google was founded by Larry Page and Sergey Brin while they were Ph.D. students at Stanford University on September 4, 1998.
Google is currently the largest Internet company by revenue in the world, followed distantly by Amazon and eBay. Google has plans on becoming a Publicly Traded Company on Wall Street within the next couple of weeks for more information look here.
With all of its success, what does Alphabet Incorporation have to offer? What are their goals? What do they stand for? Well, here at super glossary we have all that covered with our up-to-date explanation of Alphabet Inc.
Google is currently the largest Internet company by revenue in the world, followed distantly by Amazon and eBay. Google has plans on becoming a Publicly Traded Company on Wall Street within the next couple of weeks for more information look here.
With all of its success, what does Alphabet Incorporation have to offer? What are their goals? What do they stand for? Well, here at super glossary we have all that covered with our up-to-date explanation of The Alphabet Inc.
The Name:
Google got its name from a tip given to one of founders Larry’s page by his college professor referring back to a math project which was named “googol” is defined as 1 followed by 100 zeros. If one were to attempt to write out the number represented by this term it would be 1 followed by one-hundred zeros or 1, followed by 100 ones which is a massive number that would only be referred to as google in jest.
The Meaning:
Google’s mission statement “to organize the world’s information and make it universally accessible and useful” continues to impact the way they operate today. Their search engine was not always available for use on mobile devices but has since changed meaning there are more people gaining access to Google on their smartphones than computers. With this new focus, they have expanded beyond just searching for words into presenting relevant videos, local listings, maps, articles, blogs, and photo sharing integrated into our mobile devices.
Google’s Vision:
Google seeks to change the world by providing a comprehensive and coherent model of what is going on out there in terms of information being created, stored, and shared about everything. They want direct access to a vast amount of information in a user-friendly manner so they can understand all human knowledge in a way that allows them to make predictions. With this data, Google wishes to create products and services that are tailored specifically for you or your group so everything runs smoothly with minimal effort. But every man has its limits even Google which is why it recently announced that it will be restructured into a new holding company called Alphabet, Google’s biggest and boldest move yet.
The Name:
Alphabet Inc. is the name of the corporation that will serve as Google’s parent company and umbrella for all subsidiaries. Alphabet will own and manage Google which remains focused on Internet-related services and products such as Android Apps, YouTube, Gmail, Maps, and Apps which includes video sharing site ‘Vimeo'(owned by Kickstarter). They also include other smaller companies working in fields such as robotics (Boston Dynamics) life sciences (Verily Life Sciences), home automation (Nest Labs) venture capital investments (GV, CapitalG), healthcare technology solutions (Calico), and smart contact lenses meant to measure glucose levels in the blood. The company is splitting Google stock so that the founder’s Larry Page and Sergey Brin will run Alphabet which has a large number of subsidiaries included Google.
This was all done to allow investors around the world to choose what product they would like their money to go toward while still taking advantage of any synergies between companies such as Nest Labs and Android apps working together or other companies under Google’s umbrella such as YouTube streaming video from other parts of Alphabet like Calico who may be creating wonder drugs for prolonging life spans. This way shareholders can invest in one company and spread their risks throughout other computer-related projects while making it easier for management to focus on long-term goals without short-term fluctuations in stock price having any major impact on daily operations or strategy.
Google has grown to the point where Larry Page and Sergey Brin can’t manage both Google and Alphabet so they split it up into two separate companies with overlapping interests to better serve customers while also allowing them more flexibility in their goals which will ideally lead to faster growth in the future. “We’ve long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes,” said Ruth Porat CFO of Alphabet/Google who took over from Patrick Pichette back in May 2015 when he left for Canada’s bank (RBC). “The model of independent [subsidiaries] … allows us to double down on some exciting bets.”
And this new command structure means that Alphabet will be listed on the NASDAQ stock exchange under GOOGL and GOOG. These new changes will create a transition period where it is likely that some subsidiaries may have two different names until they are integrated more fully into the company. This has already been seen with Nest Labs products being referred to as Google Nest at times even though Alphabet is meant to represent a change in how Google hopes to operate going forward.
“As Sergey and I wrote in the original founder’s letter 11 years ago, ‘Google is not a conventional company,'” said Larry Page CEO of Alphabet/Google who took over from Eric Schmidt back in 2011 when he stepped down from his position as executive chairman but stayed on as a member of Google’s board of directors. “
