This afternoon Google caught most of us by surprise with its curve ball that it has restrucutred and created a new company called Alphabet. Google is now part of Alphabet.  And what is Alphabet you ask? Here is how Larry Page described it in his blog post today.

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

And so there  you have it Google the core company and the big revenue generator is part of a new company that will span all things from A to Z.  So, G is for Google as Page described in the same post. X is for X Lab and W is for Wings, the drone division of this new collection of companies.

This new Google is a slimmer one  as Page puts it and Sunder Pichai is its new CEO since Page now heads Alphabet.  Page writes:

Google itself is also making all sorts of new products, and I know Sundar will always be focused on innovation — continuing to stretch boundaries.

Intrestingly Alphabet is not owned by the new holding company as Verge points out.