Google will become part of the new holding Alphabet

Google suddenly has a parent company Alphabet, Inc. According to the founder of the American multimedia giant Larry Page, the new structure of the corporation will simplify the existing brand management scheme.

Alphabet’s CEO is Google’s co-founder Larry Page. His long-term partner and companion Sergey Brin received the post of president of a new company.

The largest company in Alphabet will remain Google. At the same time, it will undergo organizational reduction - from there will be allocated units engaged in developments that are far from Internet businesses. These new companies will also become part of Alphabet.

Well-known brands such as YouTube and Android, as well as Internet searches and applications, will remain under Google’s control.

As an example, Page named Life Sciences, a biomedical contact lens company, and Calico, which conducts research into longevity.

The holding will also include X lab, an unmanned aerial vehicle development company.

Exchange-traded Google shares will be replaced with similar Alphabet securities. Old stocks will be automatically converted to the same number of new ones, with all previous rights retained.

Alphabet official site abc.xyz
The news on the official Google blog is here

UPD: Microsoft has registered the domain abc.wtf , which leads to the Bing home page