Alphabet is the listed parent of Google and became one of the world’s most valuable companies by market capitalization.
Alphabet was created in 2015 when Google reorganized into a holding-company structure. Google became the main operating company, while Alphabet grouped it with other businesses and so-called “Other Bets,” including projects in areas such as life sciences and autonomous vehicles.
Google Search, online advertising, YouTube, Android, and Google Cloud are central to Alphabet’s financial importance. Advertising has historically supplied the largest share of revenue, while cloud computing and subscription products provide additional growth areas.
Alphabet is distinct from Google, although Google remains its largest business and best-known brand. It is also distinct from the earlier corporate structure: investors buy Alphabet shares, not a separately listed Google parent. Alphabet’s market capitalization changes with the prices of its publicly traded share classes.