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Google announced a corporate restructuring Aug. 10, 2015, forming an umbrella company called Alphabet.

CNN reported that Alphabet will operate as the parent company for a number of smaller companies, including Google, which will continue to focus on Internet products. Android, YouTube, search and ads will remain part of Google Inc.

Other departments spinning off into their own sub-companies including research focused Life Sciences (Google contact lenses), the Google X lab (driverless cars, Google Glass, drone delivery), Calico (increasing longevity), and the company's robotics division. Google Ventures and Google Capital will also become independent Alphabet companies.