It's official: Google acquired YouTube on Monday for $1.65 billion in stock.
"The YouTube team has built an exciting and powerful media platform that complements Google's mission to organize the world's information and make it universally accessible and useful,” said Eric Schmidt, Chief Executive Officer of Google. “Our companies share similar values; we both always put our users first and are committed to innovating to improve their experience. Together, we are natural partners to offer a compelling media entertainment service to users, content owners and advertisers.”
It goes without saying that this is a big-time deal that involves two of the Web's biggest names, and the offshoots of this deal should make for interesting news for the foreseeable future.
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