Google has surprised investors, customers and the public with the renaming of Google In to Alphabet Inc.
Under the restructuring and rebranding, Google will retain its best-known businesses, such as search, apps, YouTube and Android.
The company blog post stated:
We’ve long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes. But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant.
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.
You can read more about the change on the Guardian. They went on to report that shares in Google soared 5% in after hours trading.
If you have worked in a PLC that undertakes a rebranding exercise, in my case theough mergers and acquisitions, much time goes into the consideration of the development of the name and the visual identity.
For me the name of Alphabet is ingenious – it is easy to remember, it allows the organisation to encompass many different divisions and the domain they are using is brilliant http://abc.zyx.
The BBC report on the renaming of the company and state that Larry Page commented:
The name Alphabet was chosen for two reasons. It represents language, “the core of how we index with Google search”, and because Alpha-bet means “investment return above benchmark, which we strive to do”.
Truly inspired thinking. I wonder what investions Google Inc- or I should say Alphabet Inc have in store for the world.
What do you think of the renaming of Google Inc?