Filed under: Internet, Video, Web services, Google, Social Software
Google's YouTube acquisition is official
Wow. It's not every day that all the big rumors turn out to be true. Google has just officially announced its acquisition of YouTube for $1.65 billion in stock. The press release wastes no time in attempting to reassure fearful users--the press release's second sentence is, "Following the acquisition, YouTube will operate independently to preserve its successful brand and passionate community." It goes on to say that YouTube will strengthen and compliment Google's existing video business, and that it will retain all of its existing employees and remain headquartered in San Bruno, California. YouTube has yet to release a statement. I, for one, welcome our new GooTube overlords.
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Reader Comments (Page 1 of 1)
Can Erten said 6:16PM on 10-09-2006
I can't believe that. Google is becoming more inevitable. I think they did a great job... Only the big companies survive..
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Whogle? said 8:20PM on 10-09-2006
Google? The name sounds familiar... what do they do again?
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Handsome Jon said 8:59PM on 10-09-2006
Umm, I think they're in the shrimping buisness.
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GOD said 9:29PM on 10-09-2006
GooTube? I like Yougle better.
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Mr Wave THeory said 1:46AM on 10-10-2006
I wrote that Google should buy YouTube and how Mark Cuban was wrong about YouTube. My argument is strictly based on valuation of comparable companies in the space - that is a company like YouTube is more similar to Comcast than it is to WPP. In defense of Mark Cuban, I do want to mention that Mark is right about one thing. All of this is being made possible my magical Google stock which is building in very aggressive assumptions about its growth trajectory. Depending on whose numbers you believe at any given them, Google would have to grow 70-90% annually to justify its current valuations. That is a crazy assumption that investors are making. However, if everyone is crazy, some of us are less crazy than others for doing crazy things. Google, Larry, Eric, and Sergei are not crazy. They are in fact the few who are less crazy than others for doing the deal. The crazzies are the investors and analysts who got the stock to $500 in the first place.
http://mrwavetheory.blogspot.com/2006/10/165-billion-for-youtube-btf.html
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Paim said 9:19PM on 10-10-2006
They only paid that much? Why did Facebook counter whoever (Viacom i think) with a $2bil offer
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Claudiu Spulber said 6:51AM on 10-10-2006
Wow, and this is a company that started 20 months ago. That's like 87 million per month of activity.
This seems to be a stock-for-stock payment, and given the GOOG is now at $429, this makes about 3.9 million shares, isn't this like 1% of Google?
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