Alphabet is the holding company (NASDAQ: GOOGL) for the collection of services related to Google as well as several other related entities. Alphabet is one of the largest listed companies globally and is one of the Big Five tech firms (GAMAM). Google made its initial public offering in 2004. Alphabet was created in 2015 after Google was restructured, which thereafter became a fully-owned subsidiary of the former. Alphabet reached USD 1 trillion in market capitalization for the first time in January 2020. The company also entered the Fortune 500's Top 10 for the first time in the same year. Alphabet generated revenue of USD 307.4 billion in 2023.
Google is best known for its “Google Search” engine and Chrome web browser. The company's other notable platforms include YouTube, Play, and Maps. Supportive hardware include Pixel smartphones and smartwatches, Fitbit wearable devices, Chromecast streaming devices and smart TVs, and Google Nest smart home products. Google’s cloud business (Google Cloud) offers two main products: Google Cloud [infrastructure] Platform and Google Workspace, which includes a range of collaboration apps like Gmail, Docs, Drive, Calendar, and Meet. Google has also been testing out new technologies across a wide range of industries, which it calls “other bets.''
Google had more than 4.3 billion global users across multiple platforms as of January 2024 (~92% of total global internet users), but around 52% of its revenue was from the US. According to the 2023 annual report, Google expects to diversify its revenue mix, which is currently overdependent on advertising revenue (~77% of total revenue in 2023). In addition to Google Cloud and Other Bets, the company expects to grow Google Play, hardware, and YouTube non-advertising revenue in the medium term. Additionally, the company plans to operate entirely on carbon-free energy by 2030 at its data centers and offices worldwide.
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