It's official: Google is now a subsidiary. Feels weird, doesn't it? The change happened yesterday as a new parent company, Alphabet, takes Google and other ventures under its wing. Google as a subsidiary means little to consumers, though, as it's still going to be the front-facing brand; the name associated with Android, Search, Apps, Maps, and so on.
As the graphic below highlights, Alphabet will initially consist of seven separate companies, each with its own CEO. Google Ventures will look after acquisitions and funding; Calico will be responsible for the health side of things; Nest will be smart products; Google Capital invests in "tech trends"; Fiber handles all things Google ISP; while Google X is the company that will be responsible for working on future breakthroughs.
While Google's motto has always been "Don't Be Evil", Alphabet's could become "Do The Right Thing". We learn of this in the official Code of Conduct, which begins: "Employees of Alphabet and its subsidiaries and controlled affiliates (“Alphabet”) should do the right thing – follow the law, act honorably, and treat each other with respect."
The introduction of Alphabet hasn't resulted in a change to the company's official tickers; those still remain GOOG and GOOGL. Perhaps at some point we'll see Alphabet Inc. replace Google Inc. with regards to both of them.
As we reported back in August, Google's new CEO becomes Sundar Pichai, someone who's achieved great success with the company since his joining in 2004. He's managed Chrome, Android, and other important Google projects.
With the changeover having finally been made, now we can sit back and wait to see how it all plays out.