October 11th, 2006

cat and mouse

Google Picks Up YouTube


Google Picks Up YouTube

Google Picks Up YouTube for $1.65 Billion
by Kyle Monson

Google announced today that the company will acquire online video giant YouTube in a $1.65 billion stock-for-stock transaction.

The online rumor mill has been abuzz with speculation since last Friday, when word of the Google/YouTube negotiations leaked to the press. The announcement follows a busy day of announcements by the two companies, each of which went public with new partnerships with major media conglomerates today.

In a joint statement to the press, Google reps said that YouTube will operate independently and preserve its brand identity.

"Our community has played a vital role in changing the way that people consume media, creating a new clip culture. 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," said YouTube CEO and co-founder Chad Hurley. "I'm confident that with this partnership we'll have the flexibility and resources needed to pursue our goal of building the next-generation platform for serving media worldwide."

The deal is expected to close in the fourth quarter of 2006.



Well, color me surprised! I had no clue that Google wanted to acquire YouTube. As a fan of both Google and YouTube, I'm sure this will all work out for the best...site stats
autumn sunshine

YouTube Founders Discuss Google Deal


YouTube Founders Discuss Google Deal

YouTube Founders Discuss Google Deal

LOS ANGELES (Hollywood Reporter) - From offices above a pizza parlor in San Mateo, California, YouTube founders Chad Hurley and Steve Chen birthed a video-sharing Web site that has made a huge mark in the Internet and entertainment world after barely a year in operation.

On the day Google announced its $1.65 billion acquisition of YouTube, Hurley and Chen talked about what the deal means for the exploding world of Internet video.

THE HOLLYWOOD REPORTER: HOW LONG DID THIS TAKE TO COME TOGETHER?

Chad Hurley: Throughout the course of developing this company, there's been a lot of interest. Really, in the last week or so, we saw the possibilities of combining forces with Google. What really helped accelerate discussions was the opportunity to operate independently. It will allow me and Steve to sharpen our focus for our community and for our partners (and) to have the resources and experience of Google with us.

THR: What is the reporting structure between YouTube and Google?

Hurley: Over the coming weeks and months, integration teams will sort out the exact details of how it's going to work. But Steve and I are going to continue to do our thing and operate the company.

Steve Chen: We're really excited. Listening to the folks from Google and their vision of how we'll interoperate with Google ... they don't want to stop our momentum. They want us to continue to excel in the things we're doing.

THR: WHAT SHOULD CONTENT COMPANIES TAKE AWAY FROM THIS DEAL AND THE CONTENT DEALS YOU ANNOUNCED?

Hurley: We're committed to building a new market for content owners, with Sony BMG and Universal Music leveraging the same technologies as Warner Music Group. There are new ways to leverage user-generated content that never existed before. CBS will be the first network to start testing some of these tools that we're releasing by the end of the year. What's also exciting with CBS is that they're developing three specific feeds on a daily basis—entertainment, news and sports. People have the ability to go to a CBS channel on a site, a daily feed. I think it's something your users are going to benefit from.

THR: ARE THERE MORE CONTENT DEALS TO COME?

Hurley: This is just the beginning. We're going to have more resources to accelerate these discussions. We are a relatively small company now, and we have the opportunity to really move forward with a lot of these partnerships. We'll move quicker on these deals and focus on the tools we're building. Google will have more opportunity to monetize their content in an effective way.

THR: COMPANIES THAT DIDN'T ACQUIRE YOU, WILL THAT AFFECT FUTURE RELATIONS WITH THEM?

Hurley: I don't know about those companies specifically. What allowed us to (work with) Google was (that) we shared a similar vision ... and there was the opportunity to remain independent.

THR: WAS MAINTAINING INDEPENDENCE OF PRIMARY IMPORTANCE TO YOU?

Hurley: Steve and I have really enjoyed the opportunity to define this new market and build a product for our partners. Now with our relationship with Google, we'll continue to do that for years to come.



As I said here, I'm sure this will all work out for the best. Sounds good!

Isn't it interesting that I prefer to discuss this to the news conference given by the President this morning?

I actually listened to almost the entire news conference, by the way. (I missed part of the beginning, but heard all the rest.)

If you're interested in more about this, you can read Collapse )
party

Mitch Aced his Realtor Test!


Wonderful news!

My friend Mitch aced the test (Real Estate Exam he's been studying for these many weeks. Go, Mitch! (grin)

Those interested can see the ecard I sent him by clicking this link...

I'm so happy for him. I knew he'd do great, of course, as the man is brilliant. He was a lot more worried about it than anyone else who knows him.

For the record, he scored 98%.

(Again, as I said, it's no surprise!)

So now he moves on to training with the realtors he's going to work for...

We need to celebrate this big time! If I was over this crud I'm fighting, I'd be out playing tennis with him right now!

Anyway, I think something special is in order this weekend... (smile)site stats