Google changes its name to Alphabet
Google has officially changed its name to Alphabet, CEO Larry Page has announced.
Don’t panic, though: the name change only applies to Google’s holding company, which operates a number of businesses. Most of the services people use on a day-to-day basis, like search, apps, YouTube and Android, will keep the Google name.
While unexpected, the move comes as Google gets involved in more businesses outside of its core internet offering, such as drones, smart homes and medical research.
The establishment of the Alphabet holding company will separate these ventures from the Google ‘brand’, which most people associate with the search engine that established the company. It will also make reporting the profits from Google products easier, which is good news for investors.
In a blog post, Larry Page claimed the name change will make the company ‘cleaner and more accountable’. He also revealed that he and co-founder Sergey Brin chose Alphabet because it represents language, which is the basis of the Google search engine. It also means investment return above benchmark, which isn’t quite as cute and sentimental but probably puts a smile on investors’ faces.
Interestingly, Alphabet doesn’t own the alphabet.com domain yet…but we imagine Page and Brin can afford it.