Google Establishes Alphabet Holding Company
October 02 2015 - 7:44PM
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 ticker symbols GOOG and GOOGL and the same
shareholder rights, the company said.
Google, with online-advertising businesses that include 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 Labs, Google Ventures, Google Capital
and research lab Google X, the company said.
Google co-founder and Alphabet CEO Larry Page said he 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, a maker of
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 its 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 20:29 ET (00:29 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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