Google Press Release - Google to acquire YouTube for $1.65 Billion

Google has announced that it has agreed to acquire YouTube for 4 1.65 Billion in a stock-for-stock transaction.

This what Eric Schmidt, Chief Executive Officer of Google has to say about the deal

The YouTube team has built an exciting and powerful media platform that complements Google’s mission to organize the world’s information and make it universally accessible and useful. Our companies share similar values; we both always put our users first and are committed to innovating to improve their experience. Together, we are natural partners to offer a compelling media entertainment service to users, content owners and advertisers.

For more information on this, click here.

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October 11, 2006 |Posted By Ravi Shankar | Filed Under Google 

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