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Alphabet Inc

Big change is coming to Google next week

Matt Krantz
USA TODAY
A journalist looks at the new Google logo at his work station in Washington, DC on September 1, 2015. Google on Tuesday refreshed its logo to better suit mobile devices that are supplanting desktop computers when it comes to modern Internet lifestyles.

Get ready to start calling Google by its new name, Alphabet, on Monday.

The online advertising giant will complete its previously announced corporate transformation after the market closes Friday. That means starting Monday, the company will trade under the name and corporate identity of Alphabet.

Alphabet will continue to have two public classes of shares, Class A and Class C, allowing the founders to maintain control even as more shares are doled out. The symbols will remain the same, GOOG for Class C and GOOGL for Class A shares despite the name change.

Google in August announced plans change its name to Alphabet in a previously announced restructuring. The move is in response to investors' growing dissatisfaction with the company's pursuit of "moonshot" opportunities - most of which have been costly and not yielded any financial results. Investors mostly bought Google shares to profit from the company's lucrative ability to mine Internet users' personal data and sell them to the highest bidders.

The company continues to struggle with the benefits of being publicly held, but at the same time wanting to maintain control for its founders. The company used a 2014 stock split as an opportunity to create a Class C of its shares that have no voting rights. The move allows founders Sergey Brin and Larry Page maintain voting control of the company, while enjoying the liquidity of the public markets.

Follow Matt Krantz on Twitter @mattkrantz

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