What a phenomenal purchase considering You Tube has not ever made money, it was all for free with little to no advertising! It will make money now though, or Google would never have purchased it for so much money to begin with. It is already being dubbed GooTube by the tech forum geeks, and that sounds like a great name to me. The unfortunate part of this is that it is unlikely that it will remain advertisement free for very long, advertising is how Google makes all its money.
I saw this on the news last night, and I was amazed at the staggering amount that it was sold for!
I was pleasantly surprised by the 2 young owners who are only in their 20's, and they were thanking their customers for their support, and helping them make their dreams come true.
Both of these young men will walk away with around 400 million US dollars each, and most companies of this magnitude, once they've made their fortune, don't give an iota for the people who helped them make it. In this case, it really made a refreshing change!
GOOGLE MAY INHERIT LEGAL CHALLENGES
NEW YORK: Google, no stranger to lawsuits, may find a whole new class of complainers lining up for a check after the web search leader buys video entertainment site YouTube for $US1.65 ($NZ2.53) billion.
Like Microsoft, it seems Google now has to pay the price of becoming too popular:
|FOX, VIACOM, CBS AND NBC DISCUSS YOUTUBE RIVAL|
News Corp.'s Fox, Viacom Inc, CBS Corp. and NBC Universal are in talks about creating a video Web site to compete with Google Inc.'s YouTube, the Wall Street Journal reported on Friday.