Search firm announces stock deal for video-sharing site
Shaun Nichols in California, vnunet.com 10 Oct 2006
Google has agreed to acquire video-sharing site YouTube for $1.65bn in stock.
YouTube will continue to operate independently, and will keep its own headquarters and employees.
Rumours surfaced last week that an acquisition was in the works. Industry analysts speculated that such a deal could be mutually beneficial, allowing YouTube to tap into Google's vast economic and technological resources while giving Google access to YouTube's millions of viewers.
Those sentiments were echoed in the words of the two companies' chief executives.
"The YouTube team has built an exciting and powerful media platform, which complements Google's mission to organise the world's information and make it universally accessible and useful," said Google chief executive Eric Schmidt.
YouTube chief executive Chad Hurley added that joining forces with Google will allow the firm to benefit from the search giant's global reach and technology, in addition to creating new opportunities for partners.
Google expects the acquisition to be finalised by the end of 2006.
but besides that... on a google note, I read an article last week basically saying google wants to get to online domination. It also talked about their work environment, and itd love to work there, free massages, hair cuts, health care on site, free meals, can bring your dogs, you get a day of "creative something" every week you can do whatever..
This is kind of old news, as we've been talking about this in the office for the last couple of days as it had been in the rumor mill until yesterday...yeah, we're in business against Youtube.
I'm not too surprised about Google buying YT, but it's interesting because Google entered the viral video business as well. However, they weren't getting a ton of user-created content like YT did (i.e. lonelygirl15), but YT does have some controversies over copyrights seeing how the lion's share of clips on YT you find comprise of music video clips and clips from TV shows. Google is on a march obviously to grab every nook and cranny of valuable content space. But who would've known Youtube's valuation would be over $1.5 billion? That drives up the valuations of other viral video startups by a good bit as well. Youtube had done this with only 15-20 employees I believe...we have doubled that here.
The Artful Dodger wrote:This is kind of old news, as we've been talking about this in the office for the last couple of days as it had been in the rumor mill until yesterday...yeah, we're in business against Youtube.
I'm not too surprised about Google buying YT, but it's interesting because Google entered the viral video business as well. However, they weren't getting a ton of user-created content like YT did (i.e. lonelygirl15), but YT does have some controversies over copyrights seeing how the lion's share of clips on YT you find comprise of music video clips and clips from TV shows. Google is on a march obviously to grab every nook and cranny of valuable content space. But who would've known Youtube's valuation would be over $1.5 billion? That drives up the valuations of other viral video startups by a good bit as well. Youtube had done this with only 15-20 employees I believe...we have doubled that here.
maybe you guys can cash in next.
"I do not think baseball of today is any better than it was 30 years ago... I still think Radbourne is the greatest of the pitchers." John Sullivan 1914-Old athletes never change.
Coppermine wrote:Google buys Fantasy Baseball Cafe for $3.9 billion! Menyak retires; Madison still a robot.
Nah, we wouldn't settle for anything less than 3.95 billion.
Yes doctor, I am sick. Sick of those who are spineless. Sick of those who feel self-entitled. Sick of those who are hypocrites. Yes doctor, an army is forming. Yes doctor, there will be a war. Yes doctor, there will be blood.....
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by bigh0rt » Tue Oct 10, 2006 5:43 pm 
