Meet Google Alphabet - Google's new parent company

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background-color: #0C0C0C; } .subnav .section-column .column-header a { color: #fff; display: block; font-size: 22px; font-weight: 400; padding: .2em 0; text-decoration: none; } .subnav .section-column .column-header a:hover { text-decoration: none; } .subnav-business--subsections { border-bottom: 1px solid #404040; padding-bottom: 0px; } .subnav-cnn--sections { padding-top: 20px; border-bottom: 1px solid #404040; padding-bottom: 0px; } .subnav-business--subsections ul .section-column, .subnav-cnn--sections ul .section-column { display: block; text-align: left; } .subnav-business--subsections ul .section-column.section-column-morelink { display: none; } .subnav-business--subsections ul .section-column:last-child, .subnav-cnn--sections ul .section-column:last-child { margin-bottom: 0px; } .subnav-bordered-zone { border-top: 1px solid #404040; border-bottom: 1px solid #404040; padding: 22px 16px 24px; } .subnav .section-column .subsection-column { display: none; } .subnav .section-column 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color: #a3a3a3; } .subnav-business--social span { font-size: 15px; letter-spacing: -0.4px; font-weight: 500; margin-bottom: 12px; padding-right: 16px; } .subnav-business--social ul { display: flex; float: right; margin-right: 18px; margin-top: -13px; } .subnav-business--social ul li { list-style: none; } .subnav-business--social ul li ~ li { margin-left: 10px; } .subnav-business--social ul li:hover { cursor: pointer; text-decoration: none; } .subnav-business--social .cnn-icon:before { font-family: 'cnn-icons'; font-size: 20px; color: #a3a3a3; line-height: 50px; } .subnav-business--social li a:hover { text-decoration: none; } .subnav-business--social li a:hover .cnn-icon:before { text-decoration: none; color: #00C59E; } @media (min-width: 768px) { .nav-business-subsections { display: flex; margin-left: 28px; width: 600px; } .nav-business-subsections.open li a { color: #595959; } .main-banner--search form, .main-banner--search form.active { width: calc(100% - 32px); right: 38px; } .main-banner--search .search-icon:before { margin-right: 2px; right: 3px; padding-right: 0; width: 40px; } .main-banner .edition-placeholder { display: none; } .main-banner.cnn-business .subnav { opacity: .95; margin-top: 50px; } .subnav-business--subsections, .subnav-cnn--sections { text-align: left; margin-left: 40px; padding-bottom: 0; } .subnav-business--subsections { margin-top: 30px; } .main-banner.cnn-business ul { padding: 0; } .subnav-business--subsections ul .section-column, .subnav-cnn--sections ul .section-column { display: inline-block; padding: 0 1rem 2rem 0; width: 22%; vertical-align: top; } } @media (min-width: 900px) { .subnav-business--social.desktop:before { display: none; } } @media (min-width: 1024px) { .subnav-business--subsections ul .section-column.section-column-morelink { display: block; } } @media (max-width: 1119px) and (min-width: 1024px) { .main-banner .edition-placeholder { display: none; } .subnav-business--subsections ul .section-column, .subnav-cnn--sections ul .section-column { padding: 0 1rem 25px 0; width: 16%; } .subnav-business--subsections, .subnav-cnn--sections { margin-left: 24px; } .subnav-cnn--sections { padding-top: 0; } .subnav .section-column .subsection-column { display: block; } .subnav .section-column .subsection-column li { display: block; } .subnav .section-column .subsection-column { list-style: none; padding: 0px; display: block; } .subnav-cnn--sections { border-bottom: none; } .subnav-business--social.desktop{ border-top: 1px solid #404040; margin-top: -10px; } .subnav-business--social.desktop{ padding-top: -10px; } } @media screen and (min-width: 1120px) { .main-banner.cnn-business .subnav { margin-top: 0; } .main-banner.cnn-business ul { padding: 0; } .main-banner.cnn-business .container { width: 1100px; margin-right: auto; margin-left: auto; padding: 0; } .edition-switcher, .main-banner--search { display: flex; } .main-banner--search { position: relative; display: inline-block; left: 330px; 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padding: 0; color: #a6a6a6; } .main-banner--search .search-icon:before:hover { color: #fff; } .main-banner--menu { display: flex; align-items: center; width: 40px; height: 40px; margin-right: -10px; } .js-toggle-subnav .menu-icon:before { content: "\f127"; font-family: cnn-icons; font-size: 1.4666666667rem; font-weight: 300; line-height: 1.3636363636; color: #a6a6a6; transition: color .3s; position: relative; right: 5px; } .js-toggle-subnav .menu-icon:hover:before { color: white; } .js-toggle-subnav .menu-icon.open:before { content: "\f10a"; font-family: cnn-icons; font-size: 1.4666666667rem; font-weight: 300; line-height: 1.3636363636; color: #c00; transition: transform .3s, color .3s; } .main-banner .edition-placeholder { display: none; } .main-banner.cnn-business .subnav { height: auto; } .subnav-business--subsections, .subnav-cnn--sections { margin-left: 0; } .subnav-business--subsections { padding: 0; border-bottom: none; padding-bottom: 20px; } .subnav-business--subsections ul { padding: 24px 0 0; } .subnav-cnn--sections ul { padding: 30px 0; } .subnav-business--subsections ul .section-column, .subnav-cnn--sections ul .section-column { font-size: 20px; } .subnav-business--subsections ul, .subnav-cnn--sections ul { display: flex; justify-content: flex-start; flex-wrap: wrap; } .subnav-cnn--sections ul { display: block; } /* .subnav-cnn--sections ul { border-top: 1px solid #404040; border-bottom: 1px solid #404040; } */ .subnav-cnn--sections { border-top: 1px solid #404040; border-bottom: 1px solid #404040; display: block; padding-bottom: 18px; } .subnav-business--subsections ul .section-column { text-align: left; width: 14%; } .subnav-cnn--sections ul .section-column { min-width: 128px; text-align: left; width: 13%; } .subnav .section-column .column-header a { font-size: 22px; color: white; } .subnav .section-column .subsection-column { display: flex; flex-direction: column; padding: 0px; margin: 10px 0 0; } .subnav-bordered-zone.mobile { display: none; } .nav-business-subsections { display: flex; margin-left: 28px; } .nav-business-subsections.open li a { color: #595959; } .nav-business-subsections.open li a:hover { color: #fff; } .edition-switcher, .main-banner--search { display: flex; } .subnav-business--social.desktop { display: flex; flex-direction: row; margin: 20px 0 50px; align-items: center; float: right; padding-top: 15px; } .subnav-business--social.desktop:before { width: 0; } .subnav-business--social span { margin-bottom: 5px; } .subnav-business--social.mobile { display: none; } } </style> <script> var subnavToggles = document.getElementsByClassName('js-toggle-subnav'); var flyout = document.querySelector('.js-toggle-flyout'); var subNav = document.querySelector('.container.js-toggle-header-biz'); var menuIcon = document.querySelector('.js-toggle-subnav .menu-icon'); var subSections = document.querySelector('.nav-business-subsections.js-toggle-subnav'); var desktopSearchForm = document.querySelector('.main-banner--search form'); var desktopSearchInput = document.querySelector('.main-banner--search input[type="text"]'); var desktopSearchToggle = document.querySelector('.js-toggle-search'); var stickyHeader = document.querySelector('.js-sticky-header'); var stickyAnchor = document.querySelector('.js-sticky-header-anchor'); function toggleClass(elem, className) { if (document.querySelector('body').classList) { elem.classList.toggle(className); } else { // For IE9 var classes = elem.className.split(" "); var i = classes.indexOf(className); if (i >= 0) { classes.splice(i, 1); } else { classes.push(className); elem.className = classes.join(" "); } } } /* Header Subnav Toggle */ function handleSubNavToggle(e) { toggleClass(flyout, "open"); toggleClass(subNav, "open"); toggleClass(menuIcon, "open"); toggleClass(subSections, "open"); } for (var i = 0; i < subnavToggles.length; i++) { subnavToggles[i].addEventListener('click', handleSubNavToggle, false) } desktopSearchToggle.onclick = function() { toggleClass(desktopSearchForm, 'active'); console.log(desktopSearchForm.className) if (desktopSearchForm.className.includes('active')) { desktopSearchInput.focus(); } } function handleStickyHeader() { var headerHeight = stickyHeader.getBoundingClientRect().height; var anchorDistanceFromTop = stickyAnchor.getBoundingClientRect().top; if (anchorDistanceFromTop < 0) { console.log('duck') stickyAnchor.style.height = headerHeight + 'px'; stickyHeader.classList.add('fixed') } else { stickyAnchor.style.height = 'auto'; stickyHeader.classList.remove('fixed') } } if (WM && WM.UserConsent && WM.UserConsent.isInCcpaRegion()) { let doNotSellLink = document.getElementById('js-ccpa-do-not-sell-header'); doNotSellLink.className += ' show'; doNotSellLink.text = window.WM.UserConsent.getLinkTitle() || doNotSellLink.text; } document.addEventListener('scroll', handleStickyHeader) </script> </div> </div> </div> <main class="container js-social-anchor-start" role="main"> <header> <div class="row"> <div class="column"> <div class="breadcrumb"> </div> <h1 class="article-title speakable">Meet Google Alphabet - Google's new parent company</h1> <style> #ad_ns_atf_02 { float: right; margin-bottom: 8px; display: inline-block; } </style> <div id="ad_ns_atf_02"></div> </div> </div> <div class="row"> <div class="column share-byline-timestamp"> <span class="byline-timestamp"> <span id="js-byline-icon"> </span> <span class="cnnbyline "> <span class="byline">by Heather Kelly </span>  <a href="https://twitter.com/intent/user?screen_name=heatherkelly" class="soc-twtname">@heatherkelly</a> </span> <span class="cnnDateStamp"> August 11, 2015: 6:01 PM ET </span> </span> <div class="share-tools share-tools--main" id="js-sharebar-main"></div> </div> </div> </header> <div class="row two-columns-fixed-rr"> <section class="column"> <article class="module"> <div id="storycontent" >  <div id="storytext"> <div id="js-ie-storytop" class="ie--storytop"> <script type="text/javascript"> vidConfig.push({ playlist 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class="cnnplayer" id="cnnplayer0"> <div class="cnnVidplayer"> <div class="summaryImg" id="vid0" href="/video/technology/2014/11/11/google-moffett-airfield.cnnmoney"> <img src="https://i2.cdn.turner.com/money/dam/assets/150811172456-google-alphabet-in-magnets-1024x576.png" width="780" height="439" alt="What the heck is Alphabet?" border="0" /> </div> </div> <div class="cnnVidFooter"> <div class="js-vid-hed-vid0 cnnHeadline">What the heck is Alphabet?</div> <div class="js-vid-countdown-vid0 countdown"></div> </div> </div> </div> <div class="share-tools share-tools--floater" id="js-sharebar-floater"></div> <h2 class="speakable">Google announced a corporate restructuring on Monday, forming an umbrella company called Alphabet and naming a new CEO to the core business of Google.</h2> <p class="speakable"> Google co-founders Larry Page and Sergey Brin will run Alphabet -- Page as CEO and Brin as president. </p> <div id="ie_column"> </div> <p class="speakable"> The company, which was founded in 1998 and went public in 2004, announced its new operating structure <a href='http://googleblog.blogspot.com/2015/08/google-alphabet.html' target='_blank'>in a blog post</a> on Monday called "G is for Google." </p> <p> <a href='http://money.cnn.com/2015/08/10/technology/google-alphabet-restructuring/index.html'><span class='inStoryHeading'>Related: Read full text of the blog post</span></a> </p> <p> They also said that Sundar Pichai is taking over as CEO of Google. </p> <div id="ad_nat_btf_03"></div> <p> Pichai has worked at Google since 2004, most recently as the senior vice president of product. Pichai has also been the most visible Google executive of late, giving the keynote at Google's annual developers conference earlier this year. </p> <p> Alphabet will operate as the parent company for a number of smaller companies, including Google, which will continue to focus on Internet products. Android, YouTube, search and ads will remain part of Google Inc. </p> <p> Other departments spinning off into their own sub-companies including research focused Life Sciences (Google contact lenses), the Google X lab (driverless cars, Google Glass, drone delivery), <a href='http://www.calicolabs.com/' target='_blank'>Calico</a> (increasing longevity), and the company's robotics division. Google Ventures and Google Capital will also become independent Alphabet companies. </p> <figure class="body_img"> <img src="https://i2.cdn.turner.com/money/dam/assets/150810110546-google-alphabet-graphic-custom-1.png" width="" height="" alt="google alphabet graphic" border="0" /> </figure> <p> The Alphabet companies will retain their current leadership. <a href='https://nest.com/' target='_blank'>Nest</a> will be led by Tony Fadell, <a href='http://www.sidewalkinc.com/' target='_blank'>Sidewalk Labs</a> by Dan Doctoroff, and Calico by Arthur Levinson. <a href='http://www.youtube.com' target='_blank'>YouTube</a> CEO Susan Wojcicki will now report to Pichai. </p> <p> Brin will continue to head up Google X in addition to his role as president of Alphabet. Eric Schmidt will become Alphabet's executive chairman. </p> <p> "We are not intending for this to be a big consumer brand with related products -- the whole point is that Alphabet companies should have independence and develop their own brands," said Page in the announcement. </p> <p> Page said the companies would all retain a great deal of independence and be run by strong CEOs. </p> <p> <a href='/2015/08/10/media/google-alphabet-letter-easter-egg/index.html' target='_blank'><span class='inStoryHeading'>Related: Google sneaks Hooli Easter egg into announcement </span></a> </p> <p> The new stand-alone companies will have more freedom to take risks. They can continue to invest in experimental projects like driverless cars without interference from other units at the company, or investors worrying about the company wasting too much time and energy. </p> <p> Last quarter, Google posted $17.7 billion in sales, 90% of which was attributed to advertising it sold through search, partner websites, YouTube and Android. </p> <p> Investors have rewarded the company for its financial success by sending the stock soaring 25% this year. Shares rose another 6% after Monday's announcement. Google recorded $4.3 billion in profit last quarter, and it has $61 billion in cash. </p> <p> Alphabet will continue to trade under the <span>GOOGL</span> <span>(<span class='inlink_chart'><a href='http://money.cnn.com/quote/quote.html?symb=GOOGL&source=story_quote_link' class='inlink'>GOOGL</a></span>)</span> and <span>GOOG</span> <span>(<span class='inlink_chart'><a href='http://money.cnn.com/quote/quote.html?symb=GOOG&source=story_quote_link' class='inlink'>GOOG</a></span>)</span> ticker symbols when the change kicks in later this year. </p> <p> There's already a new Alphabet website, <a href='https://abc.xyz/' target='_blank'>abc.xyz</a>, which includes a hidden link to the fictional <a href='http://www.hooli.xyz/#inspiration' target='_blank'>Hooli.xyz</a> website from the HBO comedy Silicon Valley. </p> <p> <i>--CNNMoney's David Goldman contributed to this report.</i> </p> <script type="text/javascript"> vidConfig.push({ playlist : [ {id : "/video/investing/2015/07/17/google-earnings-tech-companies.cnnmoney", collection: ""} ], playerprofile : 'story', playerid : 'vid1', hedtarget : '#cnnplayer1 .cnnHeadline', divid : 'vid1' }); </script> <div class="cnnplayer" id="cnnplayer1"> <div class="cnnVidplayer"> <div class="summaryImg" id="vid1" href="/video/investing/2015/07/17/google-earnings-tech-companies.cnnmoney"> <img src="https://i2.cdn.turner.com/money/dam/assets/150522100019-most-valuable-companies-google-1024x576.jpg" width="780" height="439" alt="Google wows. Will Apple, Amazon and Facebook follow?" border="0" /> </div> </div> <div class="cnnVidFooter"> <div class="js-vid-hed-vid1 cnnHeadline">Google wows. Will Apple, Amazon and Facebook follow?</div> <div class="js-vid-countdown-vid1 countdown"></div> </div> </div> <p> </p> <div id="storyFooter"></div> <div class="clearfix"></div> <div class="storytimestamp"> <span class="cnnStorySource"> CNNMoney (San Francisco) </span> <span class="cnnDateStamp">First published August 10, 2015: 5:28 PM ET</span> </div> </div>  <div class="foot"> <div id="postedin"></div> <div class="clearFloat"></div> </div> </div> </article> <div class="cnnoutbrain outbrain-recommended" id="js-outbrain-recommended"></div> <div class="cnnoutbrain outbrain-relateds" id="js-outbrain-relateds"></div> <script type="text/javascript"> window._mNHandle = window._mNHandle || {}; window._mNHandle.queue = window._mNHandle.queue || []; medianet_versionId = "121199"; (function() { isSSL = 'https:' == document.location.protocol; var src = (isSSL ? 'https:' : 'http:') + '//contextual.media.net/dmedianet.js?cid=8CUS8896N' + (isSSL ? 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