We are in the wrong business youtube is just over 1 1/2 years old.
Deal Could Be Worth $1.6 Billion
MOUNTAIN VIEW, Calif. -- Internet search leader Google Inc. is in talks to acquire the popular online video site YouTube Inc. for about $1.6 billion, the Wall Street Journal reported Friday, citing a person familiar with the matter.
Mountain View-based Google and San Mateo-based YouTube are still at a sensitive stage in the discussion, the newspaper reported on its Web site.
The blog TechCrunch had reported on rumors of the acquisition talks. Representatives from Google and YouTube did not immediately return calls to The Associated Press.
Founded in February 2005 by three former employees of eBay Inc.'s PayPal electronic-payment unit, YouTube is surging thanks to the increased availability of high-speed Internet connections and gadgets such as camera phones and digital cameras capable of taking video.
Most of YouTube offerings are short amateur clips, although professional filmmakers, television networks and even political campaigns have posted materials.
YouTube users watch more that 100 million videos daily, and the site's market share tops that of similar services offered by Google and other popular Web sites, according to some research firms.
Google's video service lets everyday users post clips, too, and unlike YouTube, Google also gives them the choice of selling video. All YouTube clips are free.
When rumors circulated earlier this year that some major media companies were interested in buying YouTube, the company's chief executive, Chad Hurley, said the company was not for sale and a future initial public offering was possible.
Shares in Google rose $1.36 to $413.17 in midday trading Friday on the Nasdaq Stock Market.
Copyright 2006 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Posted by: NewEngland2007
Google is going to acquire the world. And they know what you've been Google searching for.
Posted by: CJIS
I doubt google will acquire Youtube anytime soon
Posted by: kwflatbed
Looks like you are wrong Google bought them today.
Google Buys YouTube For $1.65 Billion
SAN FRANCISCO -- Google Inc. snapped up YouTube Inc. for $1.65 billion Monday in deal that catapults the Internet search leader to a leading role in the online video revolution.
The all-stock acquisition unites one of the Internet's marquee companies with one of its rapidly rising stars.
The price makes YouTube, a still-unprofitable startup, by far the most expensive purchase made by Google during its eight-year history.
Although some cynics have questioned YouTube's staying power, Google is betting that the popular Web site will provide it an increasingly lucrative marketing hub as more viewers and advertisers migrate from television to the Internet.
"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 will continue to retain its brand, as well as all 67 employees, including co-founders Chad Hurley and Steve Chen.
Although some cynics have questioned YouTube's staying power, Google is betting that the popular Web site will provide it an increasingly lucrative marketing hub as more viewers and advertisers migrate from television to the Internet.
"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 will continue to retain its brand, as well as all 67 employees, including co-founders Chad Hurley and Steve Chen.
Copyright 2006 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Posted by: CJIS
Well so much for classic YouTube I have a feeling it is going to go down the tubes (pardon the pun)
I have the sixth sense that many of the videos you were so use to seeing will suddenly disappear due to copyright infringement. Plus if the new management of GoogleTube is anything like Google Video well you get the idea.
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