Google will Aqquire YouTube

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Andrew
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Google will Aqquire YouTube

Post by Andrew »

Google will Aqquire YouTube

Google, the Internet's leading search engine, announced Monday that it is buying popular online video site YouTube for $1.65 billion in stock.

YouTube, which was founded in February 2005, has quickly become the most well-known of several online video sites. More than 100 million videos, many of which are short videos created by the site's users, are downloaded a day on the site.

According to Internet research firm Hitwise, YouTube has about a 46 percent share of the online video market.

For Google (Charts), the purchase of YouTube gives the company the ability to tap into the potentially lucrative online video and social networking markets. Some analysts have criticized Google for relying too much on advertising tied to keyword searches.

The combination of Google and YouTube could further strengthen Google's dominance in online advertising, giving it an edge over rivals such as Yahoo!, Microsoft's MSN and News Corp., which owns the social networking site MySpace. Some analysts said Monday that Yahoo, Microsoft and News Corp. also had probably expressed interest in buying YouTube.

In a statement, Google said that YouTube will operate as an independent unit of Google once the deal closes and will retain the YouTube brand name. The companies added that no YouTube workers will lose their jobs as a result of the acquisition and that Google will maintain its own online video business.
- CNN Money




Update: http://www.theinquirer.org/default.aspx?article=34899 states that this report is only a rumour, however at the source site http://money.cnn.com/2006/10/09/technol ... tm?cnn=yes it clearly states this report as fact. I'd take it with salt, untill it can be confirmed.
Last edited by Andrew on Tue Oct 10, 2006 4:50 am, edited 1 time in total.

blahsucks-two
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Post by blahsucks-two »

What the...

Looks like we have another victim to the Internet Trinity (Yahoo/MSN/Google)'s Web 2.0 purchase spree.

___
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Post by ___ »

my life is over

Andrew
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Post by Andrew »

http://www.theinquirer.org/default.aspx?article=34899 states that this report is only a rumour, however at the source site http://money.cnn.com/2006/10/09/technol ... tm?cnn=yes it clearly states this report as fact. I'd take it with salt, untill it can be confirmed.

moonlit
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Post by moonlit »

According to the BBC and a video on YouTube by what appears to be the creators of YouTube this is completely true, sold for the total sum (according to the BBC) of $1.65bn

kichimi
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Post by kichimi »

I used to love youtube, are they gonna keep the name or chang it? lol, GoogleTube
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moonlit
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Post by moonlit »

Eww! It's GooTube!

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Post by kichimi »

moonlit wrote:Eww! It's GooTube!
Really?!? =|
The better candies are in the cage

mastertr

Post by mastertr »

It's official, Google now owns YouTube -_-. I hope they don't make it suck like Google Video does...

JohnDoe5808

Post by JohnDoe5808 »

They'll probably merge the two services under the Google Video name.

kichimi
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Post by kichimi »

Nothings changed yet, not even the copyright at the bottem
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casablanca
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Post by casablanca »

The Coluseeum in Rome wasn't destroyed in a day.

kichimi
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Post by kichimi »

casablanca wrote:The Coluseeum in Rome wasn't destroyed in a day.

Nice way to put it lol
The better candies are in the cage

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Post by Frozenport »

It was never really destroyed but there was a day it was abandoned...
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Post by kichimi »

i hope they dont abandon it!
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Jeff
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Post by Jeff »

i just saw a google text add on there yesterday, i dunno if they were there before, but that could be a sign of the merger.
-Jeff

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