It has been confirmed. Google bought YouTube.com is a stock transaction that will close in Q4. It will allow for YouTube to operate as it’s own entity still just has it has been. The only difference is that it will be owned by Google.
“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 Chad Hurley, CEO and Co-Founder of YouTube. “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.”
Here’s just something else Google can spend money on to increase their cashcow (AdSense).
Google To Acquire YouTube for $1.65 Billion in Stock.
Update: Lifehacker has some good insights on this purchase.
