Apr 17

YouTube ad boycott could cost Google parent Alphabet $US750m:

The world’s second-largest company by market capitalisation Alphabet, which owns Google, is under pressure in its key source of income – advertising.

Companies are pulling their ad dollars from Alphabet-owned YouTube after discovering their brands were being linked with extremist content because of a numbers-based system driven by profiling and popularity.

This week Australian companies including Telstra joined a host of global brands that have stopped advertising on the platform, and analysts say the boycott could cost Alphabet $US750 million – a big number but a small fraction of the company’s expected revenue of $US73 billion.

H/t reader kevin a.

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Aug 10

Google Renames Itself “Alphabet”, Stock Soars (ZeroHedge, Aug 10, 2015):

It’s long been difficult to catalogue everything that Google does, and apparently Google couldn’t keep up with anymore either because the company has unveiled a somewhat bizarre restructuring effort that will see “Google” become a wholly-owned subsidiary of a new holding company called “Alphabet.”

Google directors will become Alphabet directors, Larry Page will be the holding company’s CEO, and Page’s deputy Sundar Pichai will now be CEO of Google. Alphabet will replace Google as the publicly traded entity, Google shares will become Alphabet shares, but the tickers will remain as is – or something. Here’s Bloomberg trying to put it in perspective.

Google is adopting this structure in order to make clearer the difference between its main business and longer-term endeavors, as Page and Brin take on more strategic roles, while leaving operational management to trusted deputies.

Of course in today’s market, all news is good news even if it’s almost impossible to digest and evaluate, or maybe traders presume the move will be somehow “tax advantaged”, but whatever the case, the stock is soaring in AH trading.

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Here’s the full statement from Google.. err.. Alphabet:

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