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Google Restructures as Alphabet, Stock Soars
One of the biggest household names in the world, and also one of the largest firms to take up office space in the Bay Area as well as other parts of the country, is remaking its image.
Google is restructuring and will have a new parent-company name — Alphabet.
It’s new moniker has made shares rise six percent so far.
The search-engine part of the business will remain under the Google banner, but its other divisions, such as Sidewalk, which is focused on smart cities, and Google X, a branch that develops smart cars and drone delivery, will be broken out under different names. The change is reportedly an effort to keep Google innovative, much in the way that Warren Buffett runs his business, Berkshire Hathaway.
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