Google is snapping up YouTube for US$1.65 billion in a deal that catapults the Internet search leader to a starring role in the online video revolution.
This is the most expensive purchase made by Google during its eight-year history. With this purchase, it ould dramatically alter the playing field for competing Internet giants, namely Google, Yahoo and Microsoft.
YouTube's worldwide audience was 72.1 million by August, up from 2.8 million a year earlier, according to comScore Media Metrix.
The YouTube acquisition is being hailed as a bold thrust that could turn two weaknesses in the Google empire -- video distribution and social networking -- into strengths that could keep the company growing rapidly for years to come. It could also change the way users connect with video online, as well as how content owners distribute it.
There are 3 related article from www.ecommercetimes.com on this news:
1. Google Closing In on YouTube Acquisition
2. Google Places Heavy Bet on YouTube