Get ready for Alphabet. Google Inc. is now restructured under a new umbrella company called Alphabet Inc. Google co-found Larry Page will be the head of the new parent company, while the other co-found, Sergey Brin, will be the President.

So, why the need for Alphabet?

In a recent blog post Larry Page wrote, “Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main Internet products contained in Alphabet instead.”

But, is Alphabet really as unique as Page and Brin claim it is? Actually, it makes Google more traditional than ever, by lumping it under a conglomerate model. Essentially, Alphabet is the parent corporation that manages companies like Google, YouTube, Chome, and Android. It is very similar to the French luxury goods conglomerate, LVMH Moët Hennessy, which owns brands like Louis Vuitton, Fendi, and Dior.

There is nothing essentially unique about the structure of Alphabet. Though many are amazed that such a huge conglomerate could be established in under 20 years. Google was founded in 1997.

Alphabet Inc. will now replace Google Inc. as a publicly traded company, with “all the same rights.” Currently the company is valued at around $444 billion.

Many wonder if this is really an innovative step forward, or just a strategic business move. Regardless it will be interesting to see what the future holds for Alphabet, and Google.