Google Unveils Alphabet, Headed by Google’s Top Leadership

Google has unveiled a new approach to its business management, creating a new parent company it has tapped as Alphabet, with Google co-Founder Sergey Brin as its President.

The decision to forge a new identity and launch a new parent group will have large ramifications on investors and individuals alike. Alphabet will be replacing Google (NASDAQ:GOOG) as the publicly traded company in the US stock market, with all Google shares becoming Alphabet shares – subsequently, Google will become a wholly owned subsidiary of Alphabet.

More specifically, Google will retain its core search and advertising operations and businesses, in conjunction with its maps, YouTube and Android utility, according to a recent SEC filing. However, nearly all of Google’s other ventures will be run separately under the Alphabet umbrella.

The move is heralded as a win for the Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term industry, given that Alphabet will have a much easier time investing or creating its own fintech subsidiaries. Even before the announcement and genesis of Alphabet, Google Ventures has been active in the fintech realm via a number of investments in OnDeck, The Climate Corporation, DataFox, LendUp, Ripple Ripple Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Read this Term Labs, and Upstart, among others.

"We liked the name Alphabet because it means a collection of letters that represent language, one of humanity's important innovations," explained Google's co-Founder and Chief Executive Larry Page. "And, it's the core of how we index with Google search."

Alphabet’s leadership will now be headed by a new trifecta – Mr. Page will become the new CEO of Alphabet, while Mr. Brin will now be its acting president. Finally, Eric Schmidt is now slated to be the new Executive Chairman at Alphabet, leaving Sundar Pichai as Google’s new CEO.