Google has finally announced acquisition of Youtube for $1.65 billion in stock. According to Google press center Youtube will continue to operate independently.
“The YouTube team has built an exciting and powerful media platform that complements Google’s mission to organize the world’s information and make it universally accessible and useful,” said Eric Schmidt, Chief Executive Officer of Google. “Our companies share similar values; we both always put our users first and are committed to innovating to improve their experience. Together, we are natural partners to offer a compelling media entertainment service to users, content owners and advertisers.”
All Youtube employees will be retained and YouTube will continue to be based in San Bruno, CA.
Links:
Google Press Release
Technorati Tags: StartupSquad – Deals – Web2.0 – Web_2.0 – Google – Youtube
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