Google To Acquire YouTube for $1.65 Billion in Stock
Google just announced 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.
The YouTube team has built an exciting and powerful media platform that complements Google's mission to organize the world's information and make it universally accessible and useful. Our companies share similar values; we both always put our users first and are committed to innovating to improve their experience. Together, we are natural partners to offer a compelling media entertainment service to users, content owners and advertisers. - Eric Schmidt, Chief Executive Officer of Google
Our community has played a vital role in changing the way that people consume media, creating a new clip culture. By joining forces with Google, we can benefit from its global reach and technology leadership to deliver a more comprehensive entertainment experience for our users and to create new opportunities for our partners.I’m confident that with this partnership we’ll have the flexibility and resources needed to pursue our goal of building the next-generation platform for serving media worldwide. - Chad Hurley, CEO and Co-Founder of YouTube
People look to Google for inspiration and expect innovation, but mostly people talk about Google's money. I don't understand why Google couldn't build a better Video sharing site, or how about finding a better way of searching videos.
If Google is just looking for more Users maybe they should buy North Korea, they have over twenty three million Users.