Google Establishes Alphabet Holding Company
03 October 2015 - 8:40AM
Dow Jones News
By Alistair Barr
Google Inc. said its reorganization into a holding company
called Alphabet Inc. is complete.
The Internet giant hopes the move will highlight the
profitability of its main online advertising businesses while
giving more speculative new projects more freedom to grow.
Google's Class A and C stocks will begin trading as Alphabet
Class C Capital Stock and Alphabet Class A Common Stock,
respectively, on the Nasdaq Global Select Market on Monday. They
will retain the same ticker symbols GOOG and GOOGL and the same
shareholder rights, the company said.
Google, with online advertising businesses including Search,
Android and YouTube, is now a wholly owned subsidiary of Alphabet.
Other "moonshot" initiatives will eventually be set up under
Alphabet, including health-care units Google Life Sciences and
Calico, Sidewalk Labs, Nest, Google Ventures, Google Capital and
the research lab Google X, the company said.
Google co-Founder and Alphabet CEO Larry Page hopes the
restructuring will turbocharge the company's big bets in industries
such as health care and transportation. People familiar with the
plan said the autonomy already gained by Nest, which makes
connected-home devices, is a model for how the new businesses will
be run more independently
Alphabet said it would begin to disclose financial results for
Google, and the collection of its other units, in January 2016.
Write to Alistair Barr at alistair.barr@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 02, 2015 18:25 ET (22:25 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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