Google to acquire YouTube
Google takes a step forward in its mission to organize the world's information and make it universally accessible and useful by agreeing to acquire popular video-sharing Web site YouTube for U.S. $1.65 billion in a stock-for-stock transaction that is expected to close in the fourth quarter of 2006.
This acquisition will combine Google's advertising reach with YouTube's user base and provide opportunities to multimedia content owners to reach a bigger audience.
Google + YouTube = More reach + More ads + More money + More innovations + More information.
Congratulations, YouTube. All the best, Google.
- GOOG is trading at $429 on NASDAQ
Note: USD $1.65 billion is approximately Rs. 7519 crores.
1 crore = 100 lakh = 10 million.