Google To Acquire YouTube for $1.65 Billion in Stock
October 9, 2006 – 4:54 pmThis is pretty big news. Google just acquired one of the more popular sites. I just have to wonder if they will rename it GooTube?
MOUNTAIN VIEW, Calif., October 9, 2006 - Google Inc. (NASDAQ: GOOG) announced today that it has agreed to acquire YouTube, the consumer media company for people to watch and share original videos through a Web experience, for $1.65 billion in a stock-for-stock transaction. Following the acquisition, YouTube will operate independently to preserve its successful brand and passionate community.
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