Monday 26 September 2016

Google officially becomes Alphabet

Published 02/10/2015 | 22:06

Google today completed the move to reorganise as Alphabet
Google today completed the move to reorganise as Alphabet

Google is officially Alphabet.

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Google today completed the move to reorganise 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.

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 reorganisation, chief executive Larry Page said the company will begin reporting financial results by segments.

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