The company formerly known as Google

Last week, Google announced a rebrand of its corporate identity. Moving forward, Google, the thing you use to search stuff, will still be known as Google, but it will be one of many subsidiary businesses within Alphabet – Google’s new holding company.

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Our take

Google Australia remains unaffected by the announcement and Google products such as Google Search, YouTube, Google Play etc will remain Google-y. These products are very profitable for Google. But other ‘moonshot’ businesses such as Google X (Google Cars, Project Wing)… not so much.
Why have they done this? Separating these businesses may give investors more transparency as to how Google products are performing vs. its ‘moonshot’ counterparts. Or, it could be about tax (come on, we’re not the first to think it).
Regardless, the Alphabet soup is bubbling. Investors seem to like the move with shares up 6% post the announcement.
CNBC likes it too. Read their view here

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