Google is reorganizing under a new company name — Alphabet Inc.
Alphabet will be led by Google co-founder Larry Page and will serve as an umbrella company for Google's different products and businesses.
Google, meanwhile, will streamline its focus and lean on products such as YouTube, Android, Maps and Gmail along with the company's search and advertising businesses. The new Google will be led by Sundar Pichai.
Wall Street smiled at the move with shares up for Google in morning trading. Alphabet will be the new publicly traded company.
To find out more about the transition, watch this Newsy video.
To find out more about what it means for investors, check out this video courtesy of AOL On Network.