This will be all over CNET and the IT world tomorrow..but You heard it here first! As of October 9th 1:30 pm Pacific Time, Google has bought YouTube for $1.65 billion in an all stock deal.
YouTube has 65 employees and was founded in early 2005. Thats 1.65 billion dollars of value generated in less than 2 years!! Yahoo was the second closest bidder..but didnt win the deal in the end. Youtube, if you dont know already, is a very popular online video sharing site, link below:
This is what I am talking about when I keep saying an innovative web application can change the world. With the right guidance, a company like YouTube could have come right out of Karachi.
Google is hosting a conference call and live webcast right now. You can join in here:
http://investor.google.com/webcast.html
For details, visit Techcrunch:
http://www.techcrunch.com/2006/10/09/google-has-acquired-youtube/
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