Alphabet Inc Current Affairs - 2020
Alphabet Inc., the parent company of Google has overtaken Apple as s most valuable company in the world.
Alphabet has made a profit of $4.9 billion in the fourth quarter and was valued at 548 billion dollars followed by Apple which was valued 534 billion dollars.
The core Google businesses was largest contributor to had revenues of Alphabet which has reported revenues worth 74.5 billion dollars in 2015 and had made a profit of 23.4 billion dollars.
Earlier in 2012, Apple had overtooken Exxon Mobil to become the most valuable company in the world and in 2015 Apple became the first company to reach a market value of $700 billion.
Alphabet Inc: It came in existence in October 2015, after search engine giant Google had announced Alphabet as its parent company. It was formed as part of Google’s new organisational structure. The parent company encompass all other earlier subsidiaries and products of Google under its umbrella.
Tags: Alphabet Inc • Apple • Business • Current Affairs 2016 • Economy
Internet Search engine giant Google has officially has converted into new parent company Alphabet Inc. after US markets closed on 2 October 2015.
Company had made legal filing for officially establishing the new parent structure of Alphabet without any changes in their day-to-day operations.
After closing of US markets, shares of Google stock (both Class C and A) were convert into shares of Alphabet stock. In this exchange the tickers will remain unchanged as GOOG and GOOGL respectively.
With this Google’s core flagship business entities encompassing search, YouTube Android will be a wholly-owned subsidiary of Alphabet. Google’s smaller units like the hardware maker Nest, moonshot factory Google X will now set up their own companies under Alphabet Inc.
In August 2015, Google had announced to blow up its corporate structure by forming a new parent company called Alphabet. It wanted to allow its different businesses to operate independently and move faster with each division having its own CEO.