Google Buys Out YouTube.com For $1.65 Billion

[Meho]

Google Inc. acquired internet video site YouTube.com on Monday for a reported $1.65 Billion.

According to The Associated Press, the deal will now allow Google to become a major force in the online video market and is by far the most expensive purchase to date for the eight year-old company.

The move is being seen as a marketing tool for the company, as more viewers and advertisers migrate from television to the Internet. YouTube also announced on Monday a new partnerships with Universal Music Group, CBS Corp. and Sony BMG Music Entertainment.

Just last month the popular site also partnered with Warner Music Group, and it also recently formed a channel with hip-hop mogul Sean "Diddy" Combs, as SOHH previously reported.

"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, which was started by 29 year-old Chad Hurley and 27 year-old Steve Chen in February of 2005, has grown exponentially in popularity since the site's inception, showing over an estimated 100 million video clips per day. As part of the deal, the site will also retain its entire roster of 67 employees, including both Hurley and Chen.

[Boo-Yaa †]

wrong section pal!

[Chief]

i want 1.65 billion 

[On The Edge of Insanity]

Bastards, 1.65 billion after only one and a half years in business, thats crazy.

[Sanford - V. President of the Dangerous Crew Movement]

i want 1.65 billion 

[Teddy Roosevelt]

The move is being seen as a marketing tool for the company, as more viewers and advertisers migrate from television to the Internet. YouTube also announced on Monday a new partnerships with Universal Music Group, CBS Corp. and Sony BMG Music Entertainment.

Google is taking over.

[Diabolical]

It's funny that (I think) Google had G Video first and now they're buying the competition.

[everlast1986]

watch them filter out a bunch of shit now

[Rud]

Sucks ass, back in college in 2002 i was tossing around the idea (as im sure 1000s of people have) of an online video stream site - but being in college meant no dinero to do shit...so dubcnn it was, as of yet not offers of anywhere near 1 billion lol

[Raspass]

Sucks ass, back in college in 2002 i was tossing around the idea (as im sure 1000s of people have) of an online video stream site - but being in college meant no dinero to do shit...so dubcnn it was, as of yet not offers of anywhere near 1 billion lol

I'll pay you € 1,000 for Dubcc in cold cash and retain Jome as an employee.

[Teddy Roosevelt]

Sucks ass, back in college in 2002 i was tossing around the idea (as im sure 1000s of people have) of an online video stream site - but being in college meant no dinero to do shit...so dubcnn it was, as of yet not offers of anywhere near 1 billion lol

Your ship will come. Keep striving, Rud.

[Rud]

Your ship will come. Keep striving, Rud.

Haha, you never know i guess man, thanks



and 1000 is a bit cheap if your wanting Jome too!

[Trauma-san]

Bad move by Google, within the next year every major movie studio and recording company will sue the fuck out of youtube since you can basically get copyrighted material all over the place on there and youtube does nothing to deter it.  The only reason they haven't sued before is because there was no money at youtube.  Now there is.  Yay Google!

[R-Tistic]

Bad move by Google, within the next year every major movie studio and recording company will sue the fuck out of youtube since you can basically get copyrighted material all over the place on there and youtube does nothing to deter it.  The only reason they haven't sued before is because there was no money at youtube.  Now there is.  Yay Google!

I heard them talk about doing something similar about a month ago, so I was a bit surprised. But knowing Google, they'll work out something as far as liscensing, because that is still helpin out the companies since they get free promotion on it. Think about all the movie trailers that are on Youtube that the companies didn't have to pay a single penny to upload, and the exposure ends up being ridiculous

[GangstaBoogy]

I ain't gone lie...I'm hella jealous. Youtube and Myspace seem like such simple ideas, I wish I would've thought of one. Ahh well I'm only 19, I got plenty of time to come up with a billion dollar idea (hopefully).