Google has pulled yet another rabbit out of its hat on a hard Monday, by restructuring and forming a company called Alphabet.

With Google formed out of plenty of ventures, including Youtube, Android and more, it apparently makes sense to put them all under one hat, a parent company called Alphabet. Headed by CEO, Larry Page and Google's co-founder Sergey Brin, the new management structure with Alphabet as "a family of companies" should bring cleaner and more accountable scenario, according to Page.

Google will get a new CEO, Sundar Pichai, which was previously company's Product Chief. Google will now include all parent ventures, including Search, advertising, Maps, YouTube, Android, and Chrome, while Alphabet will "rigorously handle capital allocation and work to make sure each business is executing well," according to Page. Alphabet will also handle separate parts like Calico, Nest, Fiber (ISP), Ventures and Capital and X-lab, which handles various projects including self driving cars.

Alphabet will also replace Google as the publicly-traded company, effective immediately while Google will become a subsidiary of Alphabet, replacing Google's shares with an equal number of Alphabet shares. This move will not change GOOG and GOOGL trading symbols on the NASDAQ, but Google's results will be reported separately from other parts of Alphabet family during financial reports.

While quite surprising, the new restructuring was quite positive on the stock market as Google, or should we say Alphabet shares, were up as much as seven percent. According to Reuters, such restructuring should show investors which part of the Alphabet is actually "bringing in the bacon" and how much do "science projects" actually cost.

You can check out more about Alphabet via link below and we are quite sure that we will hear more about it in the coming weeks.



Source: ABC.XYZ.