Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) announced its decision to change the name of its enterprise unit to Google for Work effective immediately. The search engine giant is also rebranding its services. For example, Google’s e-mail and cloud storage will be called Gmail for Work and Drive for Work, respectively.
Google explains reason for the name change
According to Amet Singh, the president of Google’s enterprise unit explained that the search engine giants’ decision was primarily due to the changing trends in bringing software to corporate customers. “The word “enterprise” starts to mean different things. Many things that are associated with enterprise are not what we do. Over time that dissonance has gotten bigger,” said Singh during a press conference at Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL). Singh added that many people automatically think that the word enterprise refers to big companies. According to him, Google wants to emphasize that it is offering its business solutions for all companies regardless of size. In addition, Singh revealed that 60% of the Fortune 500 companies are active clients of the search engine giant. Google’s suite of software including the enterprise versions of Gmail and Docs are used by more than 5 million businesses.
Since its founding by Will Thomson and Chip Russell in June 2016, the Massif Capital Real Asset Strategy has outperformed all of its real asset benchmarks. Since its inception, the long/short equity fund has returned 9% per annum net, compared to 6% for the Bloomberg Commodity Index, 3% for the 3 MSCI USA Infrastructure index Read More
Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) does not provide the exact figures of its revenue from enterprises, which is included in its financial statement as “other revenue” along with Google Play store. During the previous quarter, the search engine giant reported a 10% increase in other revenues to $1.6 billion.
Google aims to create a new way of doing work
In a separate blog post, Eric Schmidt, execu