« Rebuilding Rochester on Ideas | Main | Halloween Masquerade Ball at Shelter »
October 09, 2006
Google Snaps Up YouTube for $1.65B
by Michael Liedtke
Dated: October 9, 2006
SOURCE: AP
Internet search leader Google is snapping up YouTube for $1.65 billion, brushing aside copyright concerns to seize 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 a few hours after YouTube unveiled three separate agreements with media companies to counter the threat of copyright-infringement lawsuits.
The price makes YouTube Inc., a still-unprofitable startup, by far the most expensive purchase made by Google during its eight-year history. Last year, Google spent $130.5 million buying a total of 15 small companies.
For the full article, click here.
Posted by andrewanissi at October 9, 2006 10:01 PM