Google’s parent company, Alphabet saw its value surge to $1 trillion for the first time ever on 16th January 2020. In the process, it became the fourth American tech company to reach this milestone, only behind Apple, Microsoft, and Amazon.
Its shares surged by 0.76 per cent to $1,450.16 for the valuation to reach the $1 trillion mark.
Apple was the first ever tech company to reach the $1 trillion mark when it did so in 2018. Amazon followed suit and then Microsoft reached the landmark in April 2019. While Apple and Microsoft are valued over $1 trillion, Amazon, however, has fallen behind the $1 trillion mark and is currently valued $930 billion.
This also comes weeks after co-founders of Google, Sergey Brin and Larry Page decided to stepped back from their roles in handling the daily operations of the organization, handling over the reins to Sundar Pichai, the company’s Chief Executive.
Google continues to be the leader with respect to online advertising and global marketing spending. However, it has faced concerns regarding antitrust probes into its dominance in advertising.
Alphabet, headquartered in Mountain View, California, was created in 2015 with a decision by Google to form a new parent company to distinguish its core business from a myriad of other businesses such as robotics, life sciences, and self-driving cars.