YouTube.com- Google’s newly purchase!

After rumors of Google buying out YouTube.com, it is finally out that the deal is through with Google agreeing to pay U.S. $1.65 bn (£883m). It is to be noted that this is the most expensive purchase by Google so far, with last year Google being $130.5 million spent on to acquire 15 promising companies.

YouTube - a video-sharing portal where members post and share home made videos- launched in Feb 2005, has in a relatively short span of time grown to be the most visited social network site on the internet. With site visitors running into millions per month, it was a obvious target for Google, which had relatively low foot print in online video domain.

One of the interesting fact of the deal is that both the firm have a common financial partner- Sequoia Capital. Sequoia Capital, had initially invested in Google and sits on the company’s board and holds 30%.

Google with its already Google video never was able to take off in comparision to Yahoo! and was looking for such an avenue where it not only took lead but also integrated its search advertising business to generate revenue. This is where YouTube lacked; has no definite plans how to generate revenue from growing traffic and membership. So, this deal shouldn’t come as surprise.

Google CEO Eric Schmidt, told investors that YouTube will be

one of many investments

Google plans to make in the video field.

Chad Hurley, Steve Chen, and Jawed Karim founded YouTube, Inc. on February 14, 2005 in a Californian garage. Later Jawed left for advanced degree at Stanford. Read more about youtube on http://youtube.com/t/founders.

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