The surprise reorganisation of Google under newly formed parent Alphabet gives the tech giant the ability to focus on its core business, while offering startup-like flexibility to its other projects.

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.

As Google becomes Alphabet – at least from the perspective of investors – its founders, Sergey Brin and Larry Page, are going to become full-time capital allocators. Each mini-company underneath Alphabet would have its own CEO and leadership organization. Sundar Pichai is the new CEO of Google, after serving as Google’s senior vice president of products and helming Google IO 2015.

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

“Google will be forced to become a better manager of its investments and innovations, as its new technologies will need to be able to support themselves in the market rather than be artificially buoyed by the Google brand name”, said David Gaspar, managing director of DDG.

The move allows Alphabet to pull out a number of projects and businesses out of Google that are miles away from the company’s core business of internet services.

Pichai will run Google’s traditional search, browser, and operating system business – as he has effectively been doing for almost a year now anyway – and Google will be slimmed down in other ways Page said, without being precise.

Over the years, Google has been increasingly ambitious about expanding its scope of products beyond its juggernaut search engine.

Alphabet Inc. will replace Google Inc.as the publicly traded entity, and all shares of Google will automatically convert to shares of Alphabet, with all of the same rights, Page said.

If you are unfamiliar with the Indian-born Sundar Pichai, he has been with Google since 2004 and is an Illuminati of IIT Kharagpur and Stanford University.

When contacted, a Google spokesperson would not comment on the report, referring me back to the company’s original blog post. She described the website as a “very active” part of Alphabet’s business.

It’ll be interesting to see what happens at Google – it’s definitely a new chapter. There’s every indication that this means Google+ will also continue to reside within Google, rather than be spun-out as a separate Alphabet company.

2014: Google completes a controversial stock split that creates a new class of non-voting shares, cementing Page and Brin’s control as major voting stockholders.