Google X, the moonshot division of Google/Alphabet, is undergoing big changes, and a report from Re/code provided some updates on it. As per the report, the division dropped the word “Google,” which means it will now be known just by the name X, and it also adopted a new big yellow logo.
Change of role too for Google X
There were speculations that Alphabet might be considering renaming all its divisions with the “Google” branding, and Google X is the latest division to witness this change. Recently, Google Ventures was renamed GV, while Google Life Sciences was renamed “Verily.” Google Capital, Google Fiber and Google Self-driving Cars are other non-Google products with the word “Google” in their names.
Re/code reported that X is also sharpening its focus and framing itself as an incubator for Alphabet. X will remain Alphabet’s moonshot factory to evaluate ideas, build working solutions and spin the projects out into Alphabet companies. The decision regarding when the projects go live or die will be made by a new group inside X called the “Foundry,” which is based on “certain tight criteria.”
At this year's SALT New York conference, Jean Hynes, the CEO of Wellington Management, took to the stage to discuss the role of active management in today's investment environment. Hynes succeeded Brendan Swords as the CEO of Wellington at the end of June after nearly 30 years at the firm. Wellington is one of the Read More
Originally, Google co-founder Sergey Brin headed Google X, but after the announcement about Alphabet, he stepped back. Currently, Astro Teller is in charge of X. Teller has been the group’s “Captain of Moonshots” since the departure of Sebastian Thrun in 2014.
A positive change for Alphabet
Along with the name, the division has gone through a major structural overhaul as it tries to safeguard itself from introducing products that are bound to be failures. Or to say it differently, the company will make sure that whatever products it develops and releases are successful.
The revamp does not come as a surprise, as it has been seen recently that the company has been exceedingly careful with its ventures, learning a lesson from its ambitious project Google Glass, which proved a failure at capturing the public’s imagination. Overall, the changes Alphabet is making in the lineup at Google seem promising and could make 2016 a game-changing year for the group.
On Wednesday, Alphabet shares closed down 3.46% at $719.57. Year to date, the stock is down by almost 8%, while in the last month, it is down by over 4%.