Here is how Google's momentum continues with a new company, called Alphabet.

‘’Leadership and independence’’. The recipe works: have a strong CEO who runs each business. Henceforth with a new company called Alphabet, Larry Page and Sergey  implement deeply this powerful model.

Definitely Google is not a conventional company. Alphabet Inc. will replace Google Inc. as the publicly-traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet, with all of the same rights. 

Google will become a wholly-owned subsidiary of Alphabet. Their two classes of shares will continue to trade on Nasdaq as GOOGL and GOOG. 

Alphabet is a collection of companies. The largest of which, of course, is Google.

Google financials will be provided separately than those for the rest of Alphabet businesses as a whole. 

Sundar Pichai is a new of CEO of Google.  

Alphabet will also include X lab, which develops inter alia: Wing, a drone delivery effort. Google Ventures and Capital join this new structure. 

According to Google, the name Alphabet means a collection of letters that represent language, ‘’one of humanity's most important innovations’’.