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Google Announces the Creation of Holding Company AlphabetPublished August 11, 2015 by Florin P
Corporate overhaul sees Google turn into a subsidiary of new parent company Alphabet
Two decades ago when Larry Page and Sergey Brin created Google, few expected the company to become the Internet giant that dominates the market today. Even fewer paid attention to the co-founders claims that Google was not intended to become a conventional company. With billions of dollars being invested into non-core operations, a massive corporate overhaul was in order and that’s how Alphabet came to life.
Sundar Pichai Is the New Google CEO
The fact that Google turns into a subsidiary of the holding company Alphabet promises to be a good thing, as this will give it more freedom to focus on the core operations. Lenders will no longer have to worry that Google is diverting funds to fuel ambitious and forward thinking projects.
Instead, Sundar Pichai will take over and focus on practical issues, while Mr Page and Sergey Brin will become the CEO, respectively the president of Alphabet. Pichai will focus on the central business, which consists of Android smartphones software, YouTube and the celebrated search engine.
Alphabet to Focus on Important and Meaningful Projects
Alphabet will enjoy more freedom in pursuing the projects under development and the two Google co-founders will oversee these non-core operations. Google Ventures, the research department that goes by the name of Google X and the division dedicated to life sciences will be owned by Alphabet.
Impact on Online Gambling?
A decision of this magnitude is expected to send shockwaves throughout the market and the news already had a positive impact on Google shares. This is just the tip of the iceberg and new announcements could soon follow, as people will want to learn more about the newly created Alphabet and its projects. It’s too early to say whether this corporate overhaul will also impact online gambling as a whole and online casinos in particular, but it’s hard to believe that this giant industry will be completely unaffected.