Google Officially Becomes Alphabet | NECN

Google Officially Becomes Alphabet

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    NEWSLETTERS

    AP
    FILE - In this Monday, March 2, 2015 file photo, Sundar Pichai, senior vice president of Android, Chrome and Apps, talks during a conference during the Mobile World Congress, the world's largest mobile phone trade show in Barcelona, Spain. Google is creating a new company, called Alphabet, to oversee its highly lucrative Internet business and a growing flock of other ventures, including some — like building self-driving cars and researching ways to prolong human life — that are known more for their ambition than for turning an immediate profit.

    Google is officially 'Alphabet.'

    Google Inc. on Friday completed the move to reorganize as Alphabet, and its stock will begin trading as Alphabet on the Nasdaq under the same tickers "GOOG" and "GOOGL" on Monday. Each share of Google will be automatically converted to Alphabet stock.

    Google will still exist, but as a subsidiary to the new parent company.

    Mountain View, California-based Google said in August it would create a new company that would oversee both its highly lucrative Internet business and its growing flock of other ventures like building self-driving cars and researching ways to prolong human life. The goal is to provide more independence for divisions like Nest, which makes Internet-connected home appliances, and Calico, which is conducting cutting-edge health research.

    As part of the reorganization, CEO Larry Page said the company will begin reporting financial results by segments.