Jules
10th October, 06, 05:40 PM
Google, the Internet's leading search engine, announced Monday that it is buying popular online video site YouTube for $1.65 billion in stock.
YouTube, which was founded in February 2005, has quickly become the most well-known of several online video sites. More than 100 million videos, many of which are short videos created by the site's users, are downloaded a day on the site.
According to Internet research firm Hitwise, YouTube has about a 46 percent share of the online video market.
SOURCE: http://money.cnn.com/2006/10/09/technology/googleyoutube_deal/index.htm?cnn=yes
YouTube, which was founded in February 2005, has quickly become the most well-known of several online video sites. More than 100 million videos, many of which are short videos created by the site's users, are downloaded a day on the site.
According to Internet research firm Hitwise, YouTube has about a 46 percent share of the online video market.
SOURCE: http://money.cnn.com/2006/10/09/technology/googleyoutube_deal/index.htm?cnn=yes