They'll still offer 'advice and love,' they said -- 'but not daily nagging!”
Alphabet Inc. will enter the 2020s without two leaders who have been a constant presence since Google was launched out of a Silicon Valley garage more than 20 years ago.
Page and Brin founded Google as Stanford University students in 1998, and quickly grew it to become one of the biggest forces of the new millennium. The company’s search engine quickly overtook rivals like Yahoo Inc. and Microsoft Corp. MSFT, -0.16% to obtain a sizable majority of search traffic, and the acquisitions of digital-advertising company DoubleClick, video-sharing site YouTube and mobile operating-system company Android catapulted it well beyond just a search engine.
Since Page returned to the CEO helm, Google has become one of the most valuable companies in the world, with the company’s market cap swelling from less than $200 billion at the beginning of this decade to more than $900 billion at times this year. Google ended Tuesday with a market value of $893.2 billion, according to FactSet, after a 24.7% gain so far this year.
“Today, in 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost,” they wrote. “While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it’s time to assume the role of proud parents — offering advice and love, but not daily nagging!”
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