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  World News 
11 of August, 10:57

The founders decided to abolish Google
The founders of Google Larry page and Sergey Brin created a new holding Alphabet. Google will become a part of this project, losing their divisions specializing far from Internet business research.

As explained in his blog Larry page, based on Google created a new company called Alphabet, which will be a holding structure for the search engine and projects that will soon be separated from him. Paige will be the new CEO of the company, and Sergey Brin - President.

Thus, Google will be the only one of the companies Alphabet, but essential: it will remain the core of Internet business, bringing the company's main income - search, YouTube, etc.. will Lead today's new Google Vice President Sundar Pichai.

Google will separate and become "daughters" Alphabet division, whose business is not associated with online. Among them, Paige calls the Life Sciences, working on receptive to glucose contact lenses, and Calico centered on issues of long term life. In Alphabet will include X lab, which produces new ideas, such as Wing - project for drone delivery. Under Alphabet will be performed, among other things, the investment division of Google Ventures and Capital.

Alphabet will replace Google as a public company. All Google stock automatically converted into the same number of shares of Alphabet with the same rights. Already from the 4th economic quarter of this year the company expects to disclose separately the characteristics of Google and separately - combined performance of other subsidiaries of Alphabet. According to Paige, the activities of Google with the reorganization will be more transparent and accountable.

Google was founded in 1998. Its main asset, the eponymous search engine, was created as a student project of page and Brin, who were then students at Stanford University. In all of this, as we are told by the experts, the new structure work Google - Alphabet - will be similar to Berkshire Hathaway Corp. billionaire Warren Buffett.

sections: World News, Economics

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