Well, it happened. Google is now a wholly-owned subsidiary of a new parent company called Alphabet.
The company announced its plans for a new corporate structure back in August. Google itself will continue to exist under the leadership of CEO Sundar Pichai, while Alphabet serves as “a collection of companies” led by CEO Larry Page.
According to a new filing with the Securities and Exchange Commission, Google has “implemented the Alphabet Merger.” That means Google stock has been converted into Alphabet stock (though the stock ticker symbol remains the same), with trading of Alphabet stock expected to begin when the market opens on Monday morning.
Why the change? Well, Page wrote that the structure will allow the company to “run things independently that aren’t very related” while also keeping “tremendous focus on the extraordinary opportunities we have inside of Google.”
Featured Image: Bryce Durbin