“Get ready to start calling Google by its new name, Alphabet,” Matt Krantz reports for USA Today.
“The online advertising giant will complete its previously announced corporate transformation after the market closes Friday,” Krantz reports. “That means starting Monday, the company will trade under the name and corporate identity of Alphabet.”
“Alphabet will continue to have two public classes of shares, Class A and Class C, allowing the founders to maintain control even as more shares are doled out,” Krantz reports. “The company used a 2014 stock split as an opportunity to create a Class C of its shares that have no voting rights. The move allows founders Sergey Brin and Larry Page maintain voting control of the company, while enjoying the liquidity of the public markets.”
Read more in the full article here.
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