Google has formed a new parent company called Alphabet which will now oversee the other businesses such as:

• Calico which does research on longevity of life and biotech.
• Nest which proposes  to introduce smart home products such as the Nest Thermostat.
• Fiber to provide high speed internet service.
• X — Labs which incubates projects such as self-driving cars and delivery drones.
• Ventures and Capital for investing in start ups and long-term tech trends.

Google will retain under its umbrella the search function, the advertising activity, Google maps, apps, YouTube and Android-operating system.

Alphabet ultimately will become the holding or parent company and will eventually report the earnings separately. It will replace Google as the publicly traded company. All shares of Google will be converted to Alphabet shares eventually.

All futuristic business and innovations sometimes disturbed employee focus and gave concern to investors. Google can now concentrate on areas under its umbrella, and the parent company Alphabet can chase opportunities in other promising areas.

The founders liked Alphabet because it means a collection of letters that represent language, one of humanity’s most important innovations.