“Google announced this afternoon that it would buy YouTube, the popular video-sharing Web site, for stock that it valued at $1.65 billion,” Andrew Ross Sorkin and Jeremy W. Peters report for The New York Times.
“Google beat out a number of other YouTube suitors, including Microsoft, Viacom, Yahoo and the News Corporation. By successfully negotiating the deal, Google has once again proved that it is the Internet’s dominant player,” Sorkin and Peters report. “Under the terms of the deal, YouTube will retain much of its identity and will keep its name and its office in San Bruno, Calif., more than 25 miles from Google’s headquarters in Mountain View.”
Sorkin and Peters report, “The acquisition of the privately held YouTube will enable Google to thrive in one area of the Internet where it has so far failed to gain footing. According to Hitwise, which monitors Web traffic, has the lion’s share of online video traffic. YouTube has a 46 percent share, MySpace has 23 percent and Google Video has 10 percent.”
Full article here.
[Thanks to MacDailyNews Reader “obvious” for the heads up.]
Related articles:
WSJ: Google in talks to buy YouTube for $1.6 billion – October 06, 2006
Way to go Google
I called that!
So, if the rumored iTV link with Google videos is true … this could be good for Apple too.
I’m sure there are chairs flying in Redmond as we speak…
Now maybe with the two combined into one, they can figure out a way to produce a video quality that is watchable.
MS isn’t worry about this, really. So many people think “Microsoft Office” when they need to type something, it’s stupid.
But then, Apple should be worried. This takes mindshare aware from iTS-sourced video.
Hey who is using my name on here?
I used to use my real name “Mike K,” but it turns out there is someone else using Mike K… Now I use “RC” for my drink of choice… Royal Crown… Now someone is using “RC” too? STOP IT! I’m RC on these discussions.
Is it just me or is the MDN crew spewing out old news these days? It seems like I read news first everywhere else but MDN. This is usually the last source that has Mac related stories. With RSS feeds and digg.com, MDN site is like stale bread.
Good luck with that, RC. I had many aliases on these boards at one time (Tom Cruise, Steve’s Brother, etc.), but people kept copying my posts. And no plaguerists. It is not flattering.
And MDN could care less. What they need is a user management system. My advice? Just go set up a digg.com account if you don’t already have one, and kiss MDN goodbye.
I am sure this will get deleted from this page within the hour…
Isn’t it funny that I said someone should buy YouTube (even Apple) and every post that followed said it would be crazy to do that. Looks like Google knows something most of you don’t
Better Google than Microsoft
“Privately held!!”
After paying off the VCs that’s a nice chunk of change.
Excellent news for the TV stations and movie companies… finally a big name behind youtube that can be sued for all the copyright violations… let the slaughter begin !
WTF… I’m RC!!
RC why not try Mike RC?
Or RC Mike?
Just kidding, raster.
no… I’m RC!!
Curiosity got me to YouTube, the constant output of monotonous, uninspiring, unpolished, and puerile video clips turned me off. If anyone out there can explain what Google will gain from spending 1.65 billion dollars for YouTube please clue me in.
pr:
“Isn’t it funny that I said someone should buy YouTube (even Apple) and every post that followed said it would be crazy to do that. Looks like Google knows something most of you don’t”
Yeah how to lose money on junk.. YouTube is a popular site but it’s a money pit. It’s generated page hits but not been able to monazite it, with no prospects for doing so.
If Google can make money out of this then good luck to them.
Hey!… I thought I was RC??
What technology do they use? Windows media, quicktime or something else they’ve cooked up. Interesting thing is that it did not require installing any additional plugins.
Both Google Video & You Tube are Flash based.
JEG already stole my words. There were numerous companies interested in YouTube, Microsft likely included.
dot com boom part 2
with crappy video quality, and no known way to recoup costs besides advertising, which will take awhile to pay off a billion dollars, i cant see youtube being worth $50 million dollars. Do these companies that bid really have a plan, or is it more ‘ 1) build a website 2) ????? 3) get rich!!!! ‘ like the south park underwear gnomes ?