Despite its meteoric rise, which has enabled it to rack up annual sales exceeding $60 billion, Google says that there is still a lot to be done and that what it has accomplished so far is just "the tip of the iceberg."

The logo redesign comes just two weeks after the firm based in Mountain View, California, announced the creation of a new conglomerate, Alphabet, which will include Google and six other companies.

The company has been funnelling huge amounts of money into many diverse projects with little or no connection to its main business of online search and advertising, and - as a result - it is now preparing to place everything under the Alphabet umbrella.

Under the restructuring, Google will keep its search and YouTube operations, along with most of its biggest divisions while smaller operations such as Nest home appliances, life sciences, drone deliveries and venture capital investments will operate as individual companies.

All of the companies will be overseen by Alphabet, whose CEO will be Google co-founder Larry Page.