Google Is Now Owned by a Company Called Alphabet
Something just happened, we think.
Well this was unexpected.Larry Page just announced major changes to Google's underlying structure. The biggest change? Page, formerly Google's CEO, is now the CEO of a company called Alphabet, which will in turn own Google and Google's (Alphabet's?) other ventures, like Calico. Sundar Pichai, who was Senior Vice President of Products at Google, will now serve as Google CEO.
Update 8/10/15: Additional story has been added as the story develops.
In his blog post announcing the changes, Page noted that the new structure would allow the company to "scale up [its] aspirations." As part of the new structure, Google's more far-flung efforts, including Calico, its anti-aging biotechnology company; Fiber, its high-speed internet access service; and Google X, its R&D unit that's overseeing its driverless car project, will report directly to Page at Alphabet.
More familiar efforts, like search, Android, and YouTube, will remain under Google's banner and will report to Pichai.