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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

Google officially becomes Alphabet Inc

Internet Search engine giant Google has officially has converted into new parent company Alphabet Inc. after US markets closed on 2 October 2015. Company had made legal filing for officially establishing the new parent structure of Alphabet without any changes in their day-to-day operations. After closing of US markets, shares of Google stock (both Class C and A) were convert into shares of Alphabet stock. In this exchange the tickers will remain unchanged as GOOG and GOOGL respectively. In August 2015, India-born Sundar Pichai appointed new CEO of Google under a major restructuring while co-founder Larry Page and Sergey Brin, will head up a new company called Alphabet, which will wholly own Google.
Google Inc. to Alphabet Inc.
  • Google’s code of conduct, of course, is best-known for its first line, which was also included in Google’s 2004 filing for its initial public offering: “Don’t be evil.” Alphabet’s code doesn’t include that phrase. Instead, it says employees of Alphabet and its subsidiaries “should do the right thing – follow the law, act honorably, and treat each other with respect.”
  • With this Google’s core flagship business entities encompassing search, YouTube Android will be a wholly-owned subsidiary of Alphabet.
  • Google’s smaller units like the hardware maker Nest, moonshot factory Google X will now set up their own companies under Alphabet Inc.
  • In August 2015, Google had announced to blow up its corporate structure by forming a new parent company called Alphabet. It wanted to allow its different businesses to operate independently and move faster with each division having its own CEO.