Google has unveiled a new parent company called Alphabet Inc.
Following the new rebranding, Google will retain its best-known businesses, such as search, apps, YouTube and Android.
While the newer entities, such as the investment and research divisions, the “smart-home” unit Nest, and the drone arm will be run under Alphabet.
Google founder Larry Page in a blogpost, “This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google.
“Our company is operating well today, but we think we can make it cleaner and more accountable.
“The whole point is that Alphabet companies should have independence and develop their own brands.”
Page will become chief executive of Alphabet, while senior vice president Sundar Pichai will become the CEO of Google
