http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/10/06/BUGF9LKC584.DTL
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Google reportedly in talks to buy YouTube
- Chronicle Staff Report
Friday, October 6, 2006
(10-06) 12:13 PDT -- Google is reportedly in talks to purchase online video
site YouTube for $1.6 billion, according to several media reports. The
Wall Street Journal Friday, citing a source familiar with the talks, said
Google, the Internet search leader was at a sensitive point in the talks to buy
YouTube, the leading online video sharing site. The Journal's report comes
on the heels of similar speculation on the technology blog, Techcrunch, which
said a deal was in the works a day earlier. Google and YouTube
representatives declined to comment on the rumors Friday. San Mateo-based
YouTube was established by three veterans of online payment provider PayPal and
currently has 43 percent of the online video sharing market, according to
Hitwise, an Internet research firm. YouTube visitors watch more than 100
million videos a day on the site, according to the company. Google Video,
a competing video service that the search giant hoped would make it
a significant player in the burgeoning world of online video, ranked fifth in
the field with 6.5 percent of the market. The purported price of the deal
is considerable. By contrast, News Corp. purchased MySpace, the leading social
networking site, for $580 million last year. The company's chief executive
Chad Hurley has previously said the company was not for sale and a future
initial public offering was possible. The New York Post last month,
however, quoted a source inside YouTube who said the company would not sell for
less than $1.5 billion.
Key Link=
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URL: http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2006/10/06/BUGF9LKC584.DTL
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Peter S. Lopez ~aka Peta
Email= [EMAIL PROTECTED]
http://groups.yahoo.com/group/Aztlannet_News/
http://groups.yahoo.com/group/Humane-Rights-Agenda/
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