Google Announces Plans for New Operating Structure — Investor Relations — Google:

Larry Page on the Company blog

“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.”

Google always likes to announce things in the very low news cycle of August. First the merger with Motorola and now they just decided to mess up with Google and makes it even more difficult to understand them?

I’m still wondering if it isn’t a big troll for us to make us crazy. Next up, will they introduce the Google Language with the special Alphabet?? (Sorry, very bad pun)

Related to this, Sundar Pichai is becoming CEO of Google, with Larry Page and Sergey Brin CEO and President of Alphabet.

The first letters taken from the Alphabet:

• Calico (Longevity)
• Fiber (Internet services)
• Google (Search Engine, Youtube, Maps, Android)
• Nest (Smart household heating)
• Life Sciences (Glucose-sensing contact lens work)
• Ventures and Capital (Investing Money)
• Wing (Drone Delivery)
• X Lab (Test lab)