Does This Mean YouTube is Gonna Suck From Now On?
Google is like really rich and bought YouTube this afternoon for $1.6 Billion.
Founders Chad Hurley and Steve Chen and their 65 employees will join the company, Google said today in a statement distributed by Business Wire. In less than two years, San Bruno, California-based YouTube has catapulted from startup to Internet icon with 34 million monthly U.S. visitors.Google is now the #2 internet company in the world behind Microsoft. Do you think those bitches are single?
The stock purchase, Google's largest, underscores the pressure on the Mountain View, California-based company from startups such as YouTube and friend-finder Facebook.com, which are creating new markets for film clips and social networking. The acquisition also builds on Google's strategy to add more content to attract advertisers.
Shares of Google rose $8.50 to $429 at 4 p.m. New York time in Nasdaq Stock Market composite trading. They have risen 3.4 percent this year.