It's true: Google bought YouTube for $1.65 billion  , posted:
10-Oct-2006 11:02  YoutubeNews are in that Google went ahead and
purchased YouTube for US$1.65 billion in stock. There's only one
word to describe the deal, and that's "stunning". YouTube has
only been going since February last year, but has managed to
corner the "user supplied Internet programming market" for
videos. Google's own Video service clearly didn't manage to
catch up with YouTube, like so many other services launched by
the search engine giant. According to the Google media release:
Google's market capitalisation is around US$51 130 billion
currently. At that, Google spent some 3.24 1.27 per cent of its
marcap on the YouTube acquisition. It's all in Google shares,
the amount of which will be decided based on the thirty-day
trading average two days before the deal is sealed. Chad Hurley,
Jawed Karim and Steve Chen must be delirious with the deal.
Unbelievable really. Here's Charlie Rose interviewing Chad and
Steve: First ever YouTube vid