According to Page, Alphabet will be a collection of companies, one of which will still be named Google, albeit a more “slimmed down” version.

BMW owns both the Internet domain Alphabet.com (which may explain why the domain for the new company is, instead, abc.xyz) as well as the trademark Alphabet, which is now the name of a BMW subsidiary that provides services to corporations with vehicle fleets. Confusing yea, however the company is hoping for its new form portray a smoother just imagine for traders. Fellow co-founder Sergey Brin will become president of Alphabet, and Eric Schmidt will be executive chairman.

Yesterday came the big news that Google was reorganizing itself, and putting the company, and its other properties under a new umbrella called Alphabet. To no surprise this will be top Google exec Sundar Pichai.

“Our company is operating well today, but we think we can make it cleaner and more accountable”, Mr. Page wrote.

Google announced that it is reorganizing under a new name – Alphabet – and separating its moneymaking businesses from the moonshot ones.

We’ve reached out to Google about whether the existence of all of these products really did lead to the name change and will update when we hear back. Stepping into the role of CEO at Google is Sundar Pichai, who is has been heading the engineering department and acting as Page’s lieutenant since October. Alphabet will also include Google’s advanced X labs, which handles projects like Google’s self-driving cars and Wi-Fi balloons. Google’s venture arm has made investments and acquisitions much earlier and more diverse than what many corporate venture tech companies have done.

“This event will at the very least help investors better assess the revenue growth trajectory, as well as the capital intensity of the company’s more mature versus emerging businesses”, analysts at Credit Suisse said.

Page also revealed that Alphabet Inc. will now replace Google Inc.as the publicly traded entity and all shares of Google will now automatically convert into the same number of shares of Alphabet.

The aim of the operating overhaul is to allow Google to focus on developing its own products, while enabling other Alphabet subsidiaries with the independence to further their own brands. It shows a user-created graphic that lays out a Google product for every letter of the alphabet, except for J.