Bye-Bye Google, Hello Alphabet
Google’s Class A and C stocks have begun trading as Alphabet Class C Capital Stock and Alphabet Class A Common Stock, respectively, on Nasdaq. The stocks will retain the ticker symbols GOOG and GOOGL and the same shareholder rights.
The online-advertising businesses, which include Search, Android and YouTube, are now a wholly owned subsidiary of Alphabet. Other initiatives that will eventually be set up under Alphabet include Google’s health-care units, Sidewalk Labs, Nest Labs, Google Ventures, Google Capital and research lab Google X.
CEO Larry Page said he hopes the restructuring will turbocharge the company’s big bets in industries such as health care and transportation.
Along with its new moniker, Alphabet-n?e-Google has posted a new code of employee conduct. While there are few substantive changes, the famed original first line “Don’t be evil”, has been deleted. Now it says employees just “should do the right thing – follow the law, act honourably, and treat each other with respect.”