Google became part of Alphabet Inc. after a 2015 corporate restructuring.
In August 2015, Google announced the creation of Alphabet as a holding company. The restructuring placed Google’s core internet businesses under Alphabet while allowing other ventures, such as life sciences and investment activities, to operate as separate businesses. Google remained the largest and best-known Alphabet company.
Google’s main activities include internet search, online advertising, YouTube, Android, cloud services, and hardware. Search advertising has historically been a major source of revenue, while the wider Alphabet structure gives investors visibility into businesses outside Google’s core operations.
The common mix-up is to treat Google and Alphabet as exactly the same corporate entity. Google is a subsidiary of Alphabet, while Alphabet is the publicly traded parent company. Alphabet’s market capitalization therefore reflects the combined market value investors assign to the parent and its businesses.