Monday, October 09, 2006

Google Buys YouTube for $1.65 Billion

An AP newswire article, via MSNBC, reports that:

Google Inc. snapped up YouTube Inc. for $1.65 billion Monday in deal that catapults the Internet search leader to a leading role in the online video revolution.

The all-stock acquisition unites one of the Internet’s marquee companies with one of its rapidly rising stars.

The price makes YouTube, a still-unprofitable startup, by far the most expensive purchase made by Google during its eight-year history.

More here.

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