Google Has Acquired YouTube

9th October

2006

written by mau

Just in case you missed it. This might be the mark of a huge paradigm shift in entertainment delivery. Mark this day, and look back on it a few years from now. Ok, I guess North Korean Nuke testing is also noteworthy.
Google Has Acquired YouTube: ”

Moments ago the deal was confirmed. In their largest acquisition to date, Google has acquired YouTube for $1.65 billion in an all stock transaction. Both companies have approved the deal, which should officially close in the fourth quarter. YouTube’s 65 employees will remain with the company at YouTube’s San Bruno headquarters.

Details are also emerging that Yahoo was in the bidding war until very close to the end.

Google is hosting a conference call and webcast to discuss the deal. It is just starting now. You can hear it live at http://investor.google.com/webcast.html. If you miss it live, a replay of the call will be available until midnight Monday, October 16 at 888-203-1112 domestically and 719-457-0820 internationally. Confirmation code for the replay is 2260624.

This went from rumor to reality incredibly fast.

My Notes from the call (ongoing):

Eric Schmidt, Google’s CEO, Chad Hurley, YouTube’s CEO, David Drummond, Google’s General Counsel and others are on the call.

Eric is starting the call and immediately started talking about the content deals announced today. He says Chad Hurley and Steven Chen, YouTube’s founders, remind him of Larry and Sergey.

Chad is now talking about the reasons he agreed to be acquired by Google.

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