Alphabet is the parent company of Google and became a major trillion-dollar market-cap company.
Google reorganized under Alphabet in October 2015. The restructuring placed Google Search, YouTube, and advertising operations in the core Google business, while other ventures were grouped as “Other Bets.”
Alphabet's market value is closely tied to Google's dominance in online search and digital advertising. YouTube, Android, Google Cloud, and hardware also contribute to the company's business, although they differ substantially in scale and profitability.
A common mix-up is treating Google and Alphabet as identical stock-market entities. Google remains the consumer-facing brand and operating company, while Alphabet is the publicly traded parent. Alphabet has two major publicly traded share classes, GOOG and GOOGL, with different voting rights.