Alphabet, a market-cap giant, became Google's parent company after a corporate restructuring announced in 2015.
Google announced the creation of Alphabet in August 2015, and the reorganization took effect in October 2015. Under the new structure, Alphabet became the holding company, while Google became its largest subsidiary. The change separated Google's core internet products from several other businesses and research projects.
Sundar Pichai became Google's chief executive officer during the restructuring, while Google's cofounders Larry Page and Sergey Brin led Alphabet as chief executive and president. The restructuring did not mean that Google disappeared; instead, it clarified the corporate relationship between Google and Alphabet. Alphabet's name was chosen partly because “alpha” is an investment term for returns above a benchmark.