Google Confirms YouTube Acquisition

Mike Howes 10 Oct, 2006 at 5:54pm ET Article published in Tech

Putting an end to speculation, Google confirmed today that they will buy the popular video sharing site YouTube.

Google will pay the sum of $1.65 billon in a stock-for-stock transaction. YouTube will maintain their independence, brand and employees. Thus begins a new chapter in online video sharing.

“The YouTube team has built an exciting and powerful media platform that complements Google’s mission to organize the world’s information and make it universally accessible and useful,” said Eric Schmidt, Chief Executive Officer of Google.

Source: TechSpot

Comments

10 Oct 2006 ~ 7:57pm Thrax Cry "Piracy!" and let loose the dogs of Law.
10 Oct 2006 ~ 8:04pm Enverex Well that's one way of removing the competition. Lets hope they don't continue editing the stats to try and hide other certain videos...
10 Oct 2006 ~ 8:47pm Thrax Dibs on "Tooble™"
11 Oct 2006 ~ 10:36pm BuddyJ YouGoob!
11 Oct 2006 ~ 10:44pm airbornflght

Thrax wrote:

Dibs on "Tooble™"

keep it, I've got "Goo-Tube™":woowoo:
12 Oct 2006 ~ 6:34pm RWB I like the "Goo-Tube™" idea.