Companies change names for a variety of reasons and have successfully done so in the past to become household names today. Alphabet Inc (NASDAQ:GOOG), which is one of the most recognizable brands in the world today, started out as Backrub. PepsiCo, Inc. (NYSE:PEP) which is another top global brand was once known as “Brad’s Drinks”. Insidermonkey experts made a article about name changes that did nothing to help these companies.
Name changes are also executed due to the old name possibly being seen as too long, unpronounceable or just too generic in modern times. However, if not thought out thoroughly, name changes can also lead to a financial disaster, as name recognition can account for a lot of business, which can erode in the face of a sudden, confusing name change.