Marking the first of potentially many such acquisitions, Sony Pictures Entertainment has acquired video sharing start-up Grouper for $65 million in cash. Grouper, which has garnered praise from reviewers, will be used by Sony "to share lower quality Sony videos online, distribute DVD quality video by P2P and allow users to create mashups of select Sony media properties," according to TechCrunch, which has some interesting speculation on the resulting valuation of YouTube. Grouper co-founder and co-president Josh Felser claims the site has 8 million visitors per month, and Nielsen/NetRatings reports that Grouper has 430,000 registered users, though Felser says the Nielsen survey under-counted.