Google buys YouTube for $1.65 billion
 

http://news.yahoo.com/s/ap/20061009/...google_youtube

Google snaps up YouTube for $1.65B
By MICHAEL LIEDTKE, AP Business Writer
5 minutes ago


SAN FRANCISCO - Google Inc. 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.

I really wish I had thought of YouTube. It was such an easy concept.

GoogleTube?

Yoogle. :p

Lets you and me make a version of YouTube for pornographic videos and other videos deemed inapproprate for regular Youtube. All wannabe porn stars could upload their videos onto our site and let all the major studios see them.

Ryan Sims: "Chump change".

dude if your serious, i got your back

Dammit

Guess that means Google Video is toast?

Already done

www.pornotube.com

i

Son of a dukey. I was going to name it pornotube too. Guess I'm not very creative.

Doh!
I mean, I can't believe someone would have thought of that. Where did this countries morals go?

:banghead:

Damn that was a great idea jbucc

there already is a porn site like you tube. I think it is beavertube.com or soemthing