Google snaps up YouTube video-sharing site for $1.65bn

copyright brandrepublic.com
by Staff Brand Republic
published October 10, 2006


NEW YORK - Google has put an end to speculation by agreeing to buy video-sharing network YouTube.com for $1.65bn (£884m) in a stock deal.

The deal will bring together the web's largest search engine and its most popular site to watch video. It is expected to be completed by the end of the year.

Chad Hurley, YouTube chief executive and co-founder, said: "By joining forces with Google, we can benefit from its global reach and technology leadership to deliver a more comprehensive entertainment experience for our users and to create new opportunities for our partners."

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