Google,
the US technology company, is reorganising under a new moniker –
Alphabet – in a move underscoring its founders’ ambitions to pursue
ventures far beyond the company’s internet search core, from
self-driving cars to cutting-edge medical research.
It will still use the Google name for its popular internet search engine, mapping
service and related products.
However,
Larry Page, Google’s CEO and co-founder, said on Monday the creation of
the new holding company will provide more independence for divisions
like Nest, which makes internet-connected home appliances, and Calico,
which is researching ways to prolong human life.
Analysts
said the move may also be an attempt to satisfy Wall Street’s demands
for more fiscal accountability: As part of the reorganisation, Page said
the company will begin reporting financial results by segments.
Google
reported more than $14bn in profit on $66bn in sales last year, most of
it from lucrative internet advertising, while other ventures have
required large investments without showing immediate returns.
The
company’s stock has surged in recent weeks after a new chief financial
officer announced other moves to rein in corporate spending.
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