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Ear to the Ground

Google Buys YouTube for $1.65 Billion

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Posted on Oct 9, 2006
YouTube guys
AP / Tony Avelar

YouTube cofounders Chad Hurley, 29, left, and Steven Chen, 27, with their laptops at their office loft in San Mateo, Calif.

It’s the search engine company’s priciest acquisition in its eight-year history.

We’re, like, really, really happy for YouTube founders Chad Hurley, 29, and Steven Chen, 27—instant mega-millionaires presiding over a video-sharing company still in the red.


Time:

Google Inc. is snapping up YouTube Inc. for $1.65 billion in a deal that catapults the Internet search leader to a starring role in the online video revolution.

The all-stock deal announced Monday unites one of the Internet’s marquee companies with one of its rapidly rising stars. It came just hours after YouTube unveiled three agreements with media companies in an apparent bid to escape the threat of copyright-infringement lawsuits.

The price makes YouTube, a still-unprofitable startup, by far the most expensive purchase made by Google during its eight-year history.

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By R. A. Earl, October 9, 2006 at 7:18 pm Link to this comment
(Unregistered commenter)

Google: useful but certainly not essential in my life.

YouTube: useful but even less essential than Google.

Would someone please explain to me how non-essential, unproven, highly-volatile “instant” virtual companies like these become “worth” astronomical amounts of money… or is the “worth” and the “money” also virtual vaporware?

Sometimes I feel as if I come from a different planet. If the Google, YouTube… hell, the entire Internet… disappeared tomorrow, I’d shrug my shoulders and go get a book or go fishing. Everyone else acts as if the world would come to an end.

If Google wasn’t free, I wouldn’t consider paying for it. Same with YouTube. Who figures out how much these things are “worth?”

And where does Google get $1.6 BILLION dollars worth of anything… cash or stocks in order to purchase YouTube.

Guess there’s something lacking in my financial education.

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By Jon B, October 9, 2006 at 3:39 pm Link to this comment
(Unregistered commenter)

Truthdig provides lots and lots of video clips that come from Youtube. Sometimes, a picture(actually its video in this case) does worth a thousand words. I hope Google will continue this service.

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By synthetron, October 9, 2006 at 3:22 pm Link to this comment
(Unregistered commenter)

Please join us in the collaboratively filtered realtime discussion:

TOPIC: google youtube

START TIME:

2006-10-10 ,  00:00 CEST   (Brussels, Paris, Rome, Madrid, Stockholm).
2006-09-10 ,  23:00 BST   (London, Dublin, Lisbon).
2006-09-10 ,  18:00 EDT   (New York, Detroit, Toronto, Montreal).
2006-09-10 ,  15:00 PDT   (Vancouver, Los Angeles, Tijuana, Yukon).

TO JOIN:

go to the following url:

https://www.synthetron.com/account/tag/conversation/googleyoutube

Confirm [yes] to the security warning and follow the instructions.
(In some companies a proxy login dialog box will appear. You then need to type your company internet username and password).

YOU NEED:

A Java plugin installed on your browser.

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