Google buys YouTube

In a shock move, and we mean shock only in the way you can be shocked by an event after an extraordinary amount of speculation, Google has bought inte

In a shock move, and we mean shock only in the way you can be shocked by an event after an extraordinary amount of speculation, Google has bought internet favourite YouTube in a deal worth $1.65billion in shares. Despite the presence of Google’s own Google Video service, there are no plans to merge the two video sites. Instead, each will operate independently of the other, with YouTube retaining its branding and content. YouTube employs 67 staff including founder Steve Chen and Chad Hurley, all of whom will remain in gainful employment.

Essentials

Contact: GoogleYou Tube