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YouTube acquired by Google

YouTube

October 9 , 2006 - Google , Inc . has just confirmed that they will be acquiring YouTube , currently one of the fastest growing internet companies for as little as 1 .65 billion in stocks . The announcement has stirred the internet community as the largest online video sharing community merges with Google 's funds and expertise in providing web users with top-of-the-line virtual experience . According to Eric Schmidt , Chief Executive Officer of Google , [YouTube and Google] are natural partners to offer a compelling media entertainment service to users , content owners and advertisers ( Google to

Acquire YouTube for 1 .65 Billion in Stock ' Similarly , YouTube CEO and co-founder Chad Hurley said in a statement that [the internet community] can benefit from its global reach and technology leadership to deliver a more comprehensive entertainment experience for [the] users ( Google To Acquire YouTube for 1 .65 Billion in Stock , 2006

The 1 .65 Billion valuation of YouTube of course meets the rumored valuation demand of YouTube . According to rumors in an article published in New York Post , the video streaming company would not consider any merger offer below 1 .5 Billion ( YouTube - The Complete Pro , 2006 . With the Google acquisition , YouTube not only proved their value but also showed certain billionaires such as Mark Cuban (who was caught saying that anyone who buys YouTube is a moron ( YouTube - The Complete Pro , 2006 ) that the future could be worth billions if all morons ' were as big as Google

As much as this news is new and definitely big in all aspects , what puts this merger to the front page of the virtual network is the speed in which a small , independently-funded company is able to attract such huge proposals from internet giants such as Google . To give a brief background of YouTube for those who have not been paying attention , the company was founded by three people who used to work from Paypal : Chad Hurley , Steve Chen and Jawed Karim . The domain name , YouTube .com ' was registered on February 15 , 2005 . Public preview of the site was in May of the same year . Six months later , YouTube was officially launched with a 3 .5 million fund from Sequoia Capital . A few months later , with the upward trend in popularity of YouTube , Sequoia put an additional 8 million in the company . Sequoia Capital previously funded Google , Yahoo and Apple ( YouTube - The Complete Pro , 2006

It would also be interesting to note that YouTube has been rumored for acquisition with companies such as Viacom , Disney , and Sony in the past ( YouTube - The Complete Pro , 2006 . Some rumors also say that Yahoo showed interest in YouTube but obviously , no deal transpired ( Yahoo ! Facebook - Still on ' 2006

For fans and critics of the merger alike , the question is , what is the future of YouTube now that it has been acquired by Google ? According to an article published by Google itself ( Google to Acquire YouTube for 1 .65 Billion in Stock , 2006 , YouTube will be an agglomeration of their brand identity and...

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