Google Fiber 22, 2016, Google Fiber bought Webpass, an Internet service provider that has been in business for 13 years and specializes in high-speed Internet for business and residential customers. They have a large presence in California and specifically the Bay Area as well as San Diego, Miami, Miami Beach, Coral Gables, Chicago, and Boston. The deal closed in October 2016. Google Fiber provides an Internet connection speed of up to one gigabit per second (1,000 Mbit/s) for both download and upload, which is roughly 100 times faster access than what most Americans have. Google Fiber says its service allows for the
Google communities" around the world, as the purchase commitments will "result in infrastructure investments of more than $3.5 billion globally", and will "generate tens of millions of dollars per year in revenue to local property owners, and tens of millions more to local and national governments in tax revenue". On August 10, 2015, Google announced plans to reorganize its various interests as a conglomerate called Alphabet. Google became Alphabet's leading subsidiary, and will continue to be the umbrella company for Alphabet's Internet interests. Upon completion of the restructure, Sundar Pichai became CEO of Google, replacing Larry Page, who became CEO of