Google Parent Company Joins Trillion Dollar Technology Companies In New Surge
Google’s parent company Alphabet Inc has hit the $1trllion market value making it the third American company after Apple and Microsoft that both hit the mark in 2018. Amazon, however, dropped off the wagon and is now valued a little under a trillion which could then make Alphabet the fourth technology company to achieve the market value many companies are tirelessly working towards.
Based on the price of its Wall street listed shares, Alphabet closed at a record of $1,450.16 Thursday night. The parent company that was formed after Google restructuring in 2015 was meant to make Google ‘cleaner’ and more accountable in order to also allow the company to branch out to other businesses other than internet services.
Despite accusations of violated privacy in the past, Google has tightened its grip in the search market, bagging more revenues from advertisement, content creation, and web searches, not to forget its YouTube platform. Since the splitting of the companies, Google’s value has surged from creating smart tech products that include Google Home and Assistant.
Capital G, Calico, Google Fiber, Verily, Malta, X Development are some of the companies under Alphabet afar from the web search market with Google being the largest of them. These subsidiaries were formed with the aim of improving the transparency and oversight of the business.
Facebook was expected to hit the mark before Alphabet but is currently valued at $620 billion. Overall, PetroChina was the first to hit the trillion-dollar mark back in 2007, and in 2018, Saudi Aramco hit $2 trillion after its debut on the Riyadh stock exchange in December.
Becoming a trillion-dollar company makes Alphabet the third most valuable company in the United States after Apple and Microsoft at $1.4tn and $1.27tn respectively.