Google buys YouTube for $1.65 Billion
October 9, 2006
Billion? I’ll say it again… BILLION.
Confirmed just a few minutes ago at Techcrunch, this will be the news lighting up the blogosphere for the next few hours. More than likely the fact that Google bought You Tube won’t be the big story. The cost of the deal - $1.65 billion - will be the talking point.
As someone who doesn’t have TV I’m somewhat bemused by the popularity of YouTube, and from where I’m sitting that popularity is more a reflection on how bad today’s TV content has become, rather than how good YouTube content actually is. And perhaps that’s the point. If anything, this should serve as wake-up call to the TV networks - this is your real competition; and this is how much it’s being valued at.
YouTube’s 65 employees must be on cloud nine, and Google shareholders must be pretty pleased too - at the time of writing, Google’s share price was up 2% on the news.
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