Larry Page of Google announced in a document called “G is for Google” today it’s creating a new parent company called Alphabet. This company will replace Google Inc. as the business traded on the stock market. Google will be the largest single entity owned by that parent company. The domain name of the holding company is not going to be Alphabet.com but the new gTLD ABC.xyz. As you can see by the looks of the landing page Google is already up to something with this domain name.
Page wrote on Monday, “As Sergey and I wrote in the original founders letter 11 years ago, “Google is not a conventional company. We do not intend to become one.” As part of that, we also said that you could expect us to make “smaller bets in areas that might seem very speculative or even strange when compared to our current businesses.” From the start, we’ve always strived to do more, and to do important and meaningful things with the resources we have.”
“We did a lot of things that seemed crazy at the time. Many of those crazy things now have over a billion users, like Google Maps, YouTube, Chrome, and Android. And we haven’t stopped there. We are still trying to do things other people think are crazy but we are super excited about.”
“Our company is operating well today, but we think we can make it cleaner and more accountable.”
“So we are creating a new company, called Alphabet. I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President.”
“What is Alphabet? Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main internet products contained in Alphabet instead. What do we mean by far afield? Good examples are our health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity). Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related.”
“Alphabet Inc. will replace Google Inc. as the publicly-traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet, with all rights the same. Google will become a wholly-owned subsidiary of Alphabet.”
“Our two classes of shares will continue to trade on Nasdaq as GOOGL and GOOG”.
I respect Larry Page and Sundar Pichai a lot and I believe Alphabet will do well. I myself have been following domain names and website development regularly since 2011 and starting up on an .xyz domain is a little risky for the average start up. I mean, you’d just have to build your followers and get them familiar with the .xyz extension, which guys like myself and other domain name aficionado’s are already familiar, but the general public is not. For a company with pull like Google though, this could actually be a major homerun for .xyz Registry owner and operator Daniel Negari which would put the .xyz domain name extension in front of millions just by Alphabet/Google operating on one.