Google Snaps Up YouTube for $1.65B
danger boy
Posts: 15,722
SAN FRANCISCO (AP) - Google Inc. (GOOG) snapped up YouTube Inc. for $1.65 billion Monday in deal that catapults the Internet search leader to a leading role in the online video revolution.
The all-stock acquisition unites one of the Internet's marquee companies with one of its rapidly rising stars.
The price makes YouTube, a still-unprofitable startup, by far the most expensive purchase made by Google during its eight-year history.
Although some cynics have questioned YouTube's staying power, Google is betting that the popular Web site will provide it an increasingly lucrative marketing hub as more viewers and advertisers migrate from television to the Internet.
"We are natural partners to offer a compelling media entertainment service to users, content owners and advertisers," said Eric Schmidt, Google's chief executive officer.
YouTube will continue to retain its brand, as well as all 67 employees, including co-founders Chad Hurley and Steve Chen.
The all-stock acquisition unites one of the Internet's marquee companies with one of its rapidly rising stars.
The price makes YouTube, a still-unprofitable startup, by far the most expensive purchase made by Google during its eight-year history.
Although some cynics have questioned YouTube's staying power, Google is betting that the popular Web site will provide it an increasingly lucrative marketing hub as more viewers and advertisers migrate from television to the Internet.
"We are natural partners to offer a compelling media entertainment service to users, content owners and advertisers," said Eric Schmidt, Google's chief executive officer.
YouTube will continue to retain its brand, as well as all 67 employees, including co-founders Chad Hurley and Steve Chen.
PolkFest 2012, who's going>?
Vancouver, Canada Sept 30th, 2012 - Madonna concert :cheesygrin:
Vancouver, Canada Sept 30th, 2012 - Madonna concert :cheesygrin:
Post edited by RyanC_Masimo on
Comments
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Man is that a lot of money...If you will it, dude, it is no dream.
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Especially for an UNPROFITABLE biz.
The internet is a fad.:p"SOME PEOPLE CALL ME MAURICE,
CAUSE I SPEAK OF THE POMPITIOUS OF LOVE" -
That means that in a short time, YouTube will probably be as heavily censored as Google videos are now.Sal Palooza
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I was thinking the same thing.. after they clear out anything potentially copyrighted.
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Check your lips at the door woman. Shake your hips like battleships. Yeah, all the white girls trip when I sing at Sunday service.
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TechCrunch
Jon Murchinson
Trip Chowdhry
Cool names.
Google owners are pissing in their pants thinking of advertising dollars. -
What is that other video site Sony was thinking of buying?
Sony will no doubt advertise their software and hardware products.
