Bye bye Google, hello Alphabet

The Internet giant, Google announced on Friday that it expects to transition its stock from “Google Inc” to “Alphabet” at the end of the business day, marking the official start of the next era of Google as part of a larger holding company.

After U.S. markets closed on Friday, Alphabet replaced Google as the publicly traded company that will house Google’s search and Web advertising businesses, maps, YouTube and its “moonshot” ventures such as driverless cars, glucose-monitoring contact lenses and Internet-connected high-altitude balloons. Hence, Friday is the last day that Google has operated without a parent company.

Bye bye Google, hello Alphabet

Google’s class A shares (GOOGL.O) and class C shares (GOOG.O) will automatically convert into the same number of Alphabet Class A Common Stock and Alphabet Class C Capital Stock and start trading on the Nasdaq from Monday. On Wall Street, shares of Google will still trade under the ticker symbols GOOG and GOOGL, following last year’s stock split.

Google announced in August that it would create a new parent company called Alphabet and that Google would become one of its wholly owned subsidiaries. As announced, Google will become a business unit running under the Alphabet umbrella and will focus on core Internet-related businesses, including search, YouTube and Android.

Google’s Sidewalk Labs, a company dedicated to coming up with technologies to improve urban city infrastructure such as a free WiFi programme, will also be a part of the Alphabet business.

The Alphabet conglomerate currently includes Nest, the smart home device maker it acquired; Google X, it’s so-called “moonshot” division; venture capital arm Google Ventures, and Google Capital; Calico, its life extension venture; Life Sciences (self-explanatory); and Sidewalk Labs, focused on improving urban life. Google is reportedly planning to break out its robotics efforts into a separate division within Alphabet.

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