While the sudden rise of Amazon and the Apple renaissance both took society somewhat by surprise over the course of the 21st century, Google, the company that back in the late '90s gave itself the not-so-enviable task of indexing practically the entire observable internet, always seemed earmarked for global domination.
And thus, it is. There's nary a company today, from Apple, who's Safari browser still relies on the search engine, to just about every company whose business interests put a massive investment in making sure that they rank highly in the company's searches, that doesn't fundamentally rely on a bunch of the company's services to conduct their every day dealings.
Now, as many predicted would eventually happen, the search giant's parent company, Alphabet, is now officially the sixth company in the world to reach a trillion-dollar valuation, as the company's stock price tipped over hit a price of $1,451.70 per share, up 0.87 percent, just before U.S. markets closed on Thursday night.
“Google is one of those critical, important leaders in multiple areas,” Michael Lippert, an investment fund manager, told the Wall Street Journal. “You almost can’t live your life without Googling things.”
Many will argue that it's taken particularly long for Alphabet to reach the valuation, particularly considering it spent much of the last two decades battling it out with Microsoft for the title of the world's most valuable company. However despite its ever-growing influence over the internet, internal problems surrounding the company's culture affected its growth in value drastically.
The company has been in the headlines frequently due to employee protests and sexual misconduct allegations, while strife amongst the company's higher-echelons eventually led founders Larry Page and Sergey Brin to relinquish control of Alphabet. Google CEO Sundar Pichai took over as CEO of Alphabet in December with the goal of steadying the ship.
In a happy co-incidence for the company, their period of turbulence has come at a time of sluggish growth in the U.S. stock market. Slow growth often prompts heavy investment into stable, secure companies that have a track record of steady growth, making Google just enough of an appealing investment to tip its share price over the required threshold.
Alphabet is now the fourth tech giant to reach a $1 trillion market cap after Apple, Microsoft and Amazon all accomplished the feat over the last 18 months. Oil companies PetroChina and Saudi Aramco are also members of the 13-figure club, with the latter actually simultaneously hitting the mark and becoming the world's first $2 trillion company when it was listed on the Riyadh stock exchange in December.
The next company expected to hit the mark is Facebook, however it still has almost $400 million USD in market cap to go.