Apparently, a kerning malfunction in the previous design meant that the bottom of the ‘l’ and the bottom of the ‘e’ didn’t quite line up.

To fix it, Google moved the “g” one pixel to the right and the “l” one pixel down and to the right, as spotted by the denizens of this Reddit thread, wherein it is also pointed out that you can check all previous iterations by changing the number at the end of this url.

gizmodo