Combination Will Create New Opportunities for Users and Content Owners Everywhere
MOUNTAIN VIEW, Calif., October 9, 2006 - Google Inc. (NASDAQ: GOOG) announced today that it has agreed to acquire YouTube, the consumer media company for people to watch and share original videos through a Web experience, for $1.65 billion in a stock-for-stock transaction. Following the acquisition, YouTube will operate independently to preserve its successful brand and passionate community.
If this wasn't October, and Google wasn't a public company, I'd suspect this was all an elaborate practical joke.
In case you're wondering...
Founded in February 2005, YouTube is a consumer media company for people to watch and share original videos worldwide through a Web experience.
That's got to be the fastest billion made in the history of ever. From zero to a billion in 20 months.
I'd like to hear that sales pitch: "YouTube: it produces nothing. It hosts videos other people create, and illegal video copies. Yours for only a billion dollars." Oh, and by the way, YouTube has no business model.
via Slashdot Google Buys YouTube for $1.65 Billion /.