sissifytoserve
Posts: 1016
Joined: 8/30/2006
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Google buys YouTube for 1.65 billion
Thats a lot of greenbacks.
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Google snaps up YouTube for $1.65B
http://news.yahoo.com/s/ap/20061009/ap_on_bi_ge/google_youtube_13
By MICHAEL LIEDTKE, AP Business Writer 1 hour, 25 minutes ago
SAN FRANCISCO - 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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