Google founder hopes Alphabet spells innovation
SAN FRANCISCO (AP) — Google founder Larry Page is hoping his newly created company called Alphabet becomes synonymous with innovation.
Page told a crowd Monday night that he views Alphabet Inc. as a way to ensure the various projects that have little or nothing to do with Google's Internet search and advertising business have the independence that they need to experiment and develop products that could potentially affect billions of people.
The appearance at a Fortune magazine dinner marked Page's first public remarks since he announced Alphabet would become the parent company of Google and other ventures involved in self-driving cars, Internet-beaming balloons, Internet-connected appliances and medical research.
Page now oversees the hodgepodge of companies as Alphabet's CEO. He credits Google's other founder, Sergey Brin, for coming up with Alphabet's name.