Google finally laid its hands on You Tube and there is loads of money that will change hands in this deal. Google is buying YouTube for the reported sum of $1.65 billion in stock. Why in stock? So that the sellers have a tax-free wealth.
In the joint conference called in after the press release the founders of both the companies were excited about the deal. Eric Schmidt said that You Tube people reminded him of his early days. As for the YouTube leaders, Chad Hurley said that it has given the opportunity and resources to the YouTube to sharpen their focus and build a new media platform.
YouTube will remain a separate brand, and Google Video is not going away. It is unclear how the two services will be different from each other, but Eric Schmidt did mention that one of the principal strengths of YouTube was the social networking aspect of it.
So folks, the new owner of YouTube are Google and looks like the two founders of YouTube Steve and Chad will be having a one heck of a party and will be laughing all the way to bank.
Looks like mantra for getting rich is becoming simpler 1st develop a website, 2nd make it popular, 3rd sell it to a big corporate giant.
Via: Arstechnica
