The company, which offers health-related technology services and products, has not set a timeline for full independence. However, it has hinted at the possibility of becoming a public company. The separation process has seen mixed reactions, with some insiders questioning Verily's ability to stand alone due to its constant product pivots and a revolving door of leaders.
Key takeaways:
- Verily, Alphabet's life sciences group, is preparing to become an independent company and has set a deadline of December 16 to sever multiple ties with Google.
- The company's separation efforts are driven by its secret Flywheel project, and employees have been issued new laptops, office badges, and email addresses that are no longer aliases of the Google email domain.
- Employees will lose access to Google's employee benefits by the end of December and will receive new benefits fully dictated by Verily.
- Despite the separation, Alphabet will continue to be Verily's largest investor, and the company has raised at least $3.5 billion in total, according to Pitchbook data.