Tuesday, October 10, 2006

Google snatches up YouTube for $1.65B (AP)

YouTube cofounders Chad Hurley 29 right and Steven Chen 27 pose for a photo with their video cameras at their office loft in San Mateo Calif. Wednesday March 29 2006. Google Inc. is snapping up YouTube Inc. for $1.65 billion in a deal that catapults the Internet search leader to a starring role in the online video revolution. The all-stock deal announced Monday unites one of the Internet's marquee companies with one of its rapidly rising stars. (AP Photo/ Tony Avelar)AP - The founders of YouTube Inc. built this year's standout Web phenomenon by figuring out how to make online video sharing easier than ever. What they hadn't yet figured out was making money from their site. Google Inc. took that problem off their hands Monday by agreeing to buy the site for $1.65 billion.


posted by Smile Community @ 7:08 AM

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