As of Monday, Aug. 10, Google announced that it will be creating Alphabet, the soon-to-be parent company of Google.
The name ‘Alphabet’ is quite fitting considering it will consist of several companies — Google being the largest. Alphabet is a new structure that will allow Google founders Larry Page and Sergey Brin to keep a tremendous focus on the extraordinary opportunities inside of Google, Page said in a blog post.
Page and Brin will play a vital role in Alphabet, with Page being CEO and Brin as President. According to Google’s blog post yesterday, Page and Brin will oversee the companies in Alphabet, but each company within Alphabet will have its own CEO to run the business.
In the blog post, Page goes on to say the point is that Alphabet companies should have independence and develop their own brands.
Page said he and Brin hope that Alphabet will empower entrepreneurs and companies to flourish, as well as improve the lives of as many people as possible.