Google spells out new vision with holding company

Google, which has been expanding far beyond its original business of internet search advertising, is changing its operating structure by creating a new holding company called Alphabet.

The company says its new structure will give more independence to many of its wide-ranging and ambitious projects.

Under the plan, Alphabet will comprise the core Google business, including internet search, mapping and YouTube, along with newer businesses that will be managed separately, such as Google Fiber, Nest and the investment arm Google VenturesGoogleCEO Larry Page will become chief executive of Alphabet, with his co-founder Sergey Brin serving as president.

Long-time Google executive Sundar Pichai will be CEO of the core Google business.

The change may give investors a clearer picture of how much Google is spending on some of its newer ventures, like its effort to build a self-driving car, develop a glucose-sensing contact lens or install high-speed internet fibre networks in a number of US cities, said Colin Gillis, an investment analyst at BGC Partners.

The US company’s stock was up about 5% in after-hours trading following the announcement.


Lifestyle

The long-tailed tit’s nest is an architectural marvel.Richard Collins: Altruism of the long-tailed tits or not

The flight that brought us home to Ireland after our seven months sojourn in the Canary Islands (half our stay intended, half not) was the most comfortable I’ve experienced in years. With a large plane almost entirely to yourself, you could again pretend you were somebody.Damien Enright: Wonderful to see the green, green grass of home

IRISH folklore is replete with stories of priests praying for fine weather to help farmers save their crops in wet summers. However, the opposite could soon be happening when divine powers may have to be invoked to provide rain. And not just for farmers.Donal Hickey: Praying for rain — in Ireland

Geography is often the defining factor for the destiny of an island. Those islands that lie close to the shore have often been snapped up by interests on the mainland and their morphology changed to something completely different.The Islands of Ireland: Tarbert morphed onto the mainland

More From The Irish Examiner