Google

Google is the operating company inside Alphabet, which reports three segments. Google Services includes ads, Android, Chrome, devices, Google Maps, Google Play, Search and YouTube, and makes most of its money from advertising plus consumer subscriptions such as YouTube TV, YouTube Music and Premium, NFL Sunday Ticket and Google One. Google Cloud sells Google Cloud Platform services and Google Workspace on consumption and subscription fees, and now also books product revenue primarily from the sale of TPU systems. Other Bets is a group of smaller businesses whose revenue comes mainly from autonomous transportation and internet services.^[1]

In the quarter ended June 30, 2026, Google Services revenue was $94.5 billion, up 15%, led by 17% growth in Google Search & other, 15% in subscriptions, platforms and devices, and 13% in YouTube ads. Google Cloud revenue rose 82% to $24.8 billion. Alphabet had 198,933 employees at quarter end.^[1]

Google was incorporated in California in September 1998 and reincorporated in Delaware in August 2003. By its own account in the 2004 prospectus, it became profitable in 2001 following the launch of the Google AdWords program.^[2]

Its two venture backers joined the board in May 1999: L. John Doerr, a general partner of Kleiner Perkins Caufield & Byers, and Michael Moritz, a general partner of Sequoia Capital since 1986. Under the pre-IPO voting arrangements, holders of a majority of the preferred stock elected Doerr and Moritz, while common holders elected Sergey Brin, Larry Page and K. Ram Shriram.^[2]

Google priced its initial public offering on August 18, 2004 at $85.00 per share. The prospectus covered 19,605,052 Class A shares, of which Google sold 14,142,135 and selling stockholders 5,462,917. Google estimated its own net proceeds at $1,163.6 million. The offering used an auction process that the prospectus itself noted differed from the way most US IPOs had traditionally been underwritten.^[2]

At the IPO, entities affiliated with Kleiner Perkins held 21,043,711 shares and entities affiliated with Sequoia Capital held 23,893,800 shares, each listed as a 5% holder. Among insiders, Larry Page held 38,593,200 shares, Sergey Brin 38,489,048 and Eric Schmidt 14,758,600.^[2]

Alphabet reported consolidated revenue of $119.8 billion for the quarter ended June 30, 2026, up 24% (23% in constant currency), its 12th consecutive quarter of double-digit growth. Total income from operations was $40,770 million, of which Google Cloud contributed $8,814 million, up from $2,826 million a year earlier. Other income showed a net gain of $98.0 billion, primarily unrealized gains on equity securities, which is the main reason net income available to common stockholders rose 298%.^[1]

Sundar Pichai is CEO of Google and Alphabet. At the 2004 IPO the officers were Eric Schmidt (chairman of the executive committee and CEO), Sergey Brin (president of technology), Larry Page (president of products), Omid Kordestani (senior vice president of worldwide sales and field operations), Wayne Rosing (vice president of engineering), David C. Drummond (vice president of corporate development, secretary and general counsel) and George Reyes (vice president and CFO). Page had been CEO from September 1998 to July 2001.^[1],[2]

GV is led from the San Francisco Bay Area with offices in New York, Cambridge and London. CapitalG's team is led by managing partner Laela Sturdy, with general partners Jill Chase, Gene Frantz, James Luo, Alex Nichols, Jesse Wedler and Derek Zanutto.^[3],[4]

Alphabet backs startups through two in-house firms. GV was launched as Google Ventures in 2009 with Alphabet as its sole limited partner. It says it started with a $60 million capital commitment and now has over $13 billion under management, invests from seed to growth across technology and life sciences, supports 400 active portfolio companies across North America, Europe and Israel, and counts Uber, Nest, Slack, GitLab, Duo Security, Flatiron Health, Lemonade and One Medical among its exits. CapitalG describes itself as Alphabet's independent growth fund; its listed portfolio includes Stripe, Databricks, Lovable, Physical Intelligence, Whatnot, OpenRouter, Clay, Baseten, LangChain, Isomorphic Labs and Waymo.^[3],[4]

The largest direct bet is Anthropic. In April 2026 Google committed to invest $10 billion at a $350 billion valuation, with another $30 billion to follow if Anthropic hits certain performance targets, according to Anthropic as reported by TechCrunch. The $98.0 billion unrealized gain on equity securities in the June 2026 quarter shows how large Alphabet's minority positions have become relative to its operating results.^[5],[1]

In March 2026 Google completed its $32 billion cash acquisition of Israeli cybersecurity company Wiz, a full year after announcing the deal, which TechCrunch calls the biggest acquisition in Google's history. Wiz's investors included Sequoia, Cyberstarts, Index Ventures, Salesforce, Thrive Capital and Greenoaks. In 2025 Google also paid Windsurf $2.4 billion to license its technology while hiring its CEO and top talent, a structure that let the company take the team without buying the startup.^[6],[7],[8]