Google Inc has finally morphed into Alphabet Inc.
On October 2, Google completed the process of its transformation into a holding company called Alphabet. With Google having transformed into Alphabet, a new code of conduct for its employees has been posted by the holding company on its website. However, Google’s famous creed “DON'T BE EVIL!” is now absent from Alphabet’s new code of conduct.
A report by the Wall Street Journal pointed out that the corporate code of conduct now entreats employees to “do the right thing – follow the law, act honorably, and treat each other with respect.”
According to the report, the Google code, which was written for its 2004 IPO, is much longer and includes rules relating to co-worker relationships, pets, and at-work alcohol consumption, while Alphabet’s sticks to the basics, like avoid conflicts of interest, maintain integrity and obey the law.
Also, the vast majority of Alphabet employees will still be Google employees, part of the core search-and-advertising unit that is the new holding company’s biggest division.
Also according to Reuters: "Google’s class A shares and class C shares will automatically convert into the same number of Alphabet class A shares and class C shares and start trading on the Nasdaq from Monday. The ticker symbols will not change."
Google’s Sidewalk Labs, a company dedicated to coming up with technologies to improve urban city infrastructure such as a free WiFi program, will also be a part of the Alphabet business.
The core businesses will be called Google and operate as a wholly-owned subsidiary of Alphabet. Sundar Pichai will head Google.
Alphabet will be run by Google co-founder Larry Page and each of its businesses will have its own chief executive.
Starting from the company’s fourth quarter in January, Alphabet will have two reporting units – Google and all other Alphabet businesses taken as a whole.
Investors have cheered the move, saying it will give them greater visibility into the financial performance of Google’s highly profitable core businesses.
Alphabet’s businesses will also include connected home products maker Nest, venture capital arm Google Ventures, and Google Capital, which invests in larger tech companies.
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A report by the Wall Street Journal pointed out that the corporate code of conduct now entreats employees to “do the right thing – follow the law, act honorably, and treat each other with respect.”
According to the report, the Google code, which was written for its 2004 IPO, is much longer and includes rules relating to co-worker relationships, pets, and at-work alcohol consumption, while Alphabet’s sticks to the basics, like avoid conflicts of interest, maintain integrity and obey the law.
Also, the vast majority of Alphabet employees will still be Google employees, part of the core search-and-advertising unit that is the new holding company’s biggest division.
Also according to Reuters: "Google’s class A shares and class C shares will automatically convert into the same number of Alphabet class A shares and class C shares and start trading on the Nasdaq from Monday. The ticker symbols will not change."
Google’s Sidewalk Labs, a company dedicated to coming up with technologies to improve urban city infrastructure such as a free WiFi program, will also be a part of the Alphabet business.
The core businesses will be called Google and operate as a wholly-owned subsidiary of Alphabet. Sundar Pichai will head Google.
Alphabet will be run by Google co-founder Larry Page and each of its businesses will have its own chief executive.
Starting from the company’s fourth quarter in January, Alphabet will have two reporting units – Google and all other Alphabet businesses taken as a whole.
Investors have cheered the move, saying it will give them greater visibility into the financial performance of Google’s highly profitable core businesses.
Alphabet’s businesses will also include connected home products maker Nest, venture capital arm Google Ventures, and Google Capital, which invests in larger tech companies.
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| Image: Wikipedia |
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