$1.65 billion in Google stock would be yours if you were! Google Inc. (GOOG) has agreed to acquire the wildly popular, consumer-generated, top video entertainment site YouTube Inc. for the highest price yet paid for this type of media site.
Its like the high school football quarterback and the head cheerleader getting together-two very popular singles everyone is watching. YouTube is just a babe in arms having begun in a garage in Silicon Valley some 19 months ago. Since then more than 100 million videos have been served daily, drawing scrutiny from the big fish-major media companies looking for abusers of copyrighted television and music videos.
This will be the couple to watch in the future and lends a bit of pressure to competitor Yahoo! Inc. (YHOO) in their own quest to acquire Facebook-the No. 2 U.S. social networking site. The likely price tag for the college-age cyber hangout could approach $1 billion.
Know More about social networking at SocialRiots.com.
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