Wednesday, October 11, 2006
Google acquired YouTube
The number one online video community YouTube has been bought by Google
Making official what has been rumored, and quite accurately, Google announced that it has purchased YouTube for $1.65 billion in stock.
Youtube will maintain its current offices and all employees will retain their jobs. All 67 of them that is. I have to assume that they may see some windfall out of this.
They plan to incorporate YouTube with their online advertising. Unclear exactly how they plan to do that, but YouTube certainly lends itself to a number of creative uses.
And here is the official statement of the two founders of YouTube, Steve and Chad