GoogleTube
Eweek.xom - Google Purchases YouTube for $1.6B
Highlights --
YouTube and Google Video will continue to operate independently of each other.
YouTube...serves over 100 million videos per day... The site has captured 47.07 percent of the online video market, compared to Google's 11.09 percent. Google, meanwhile, holds about 50 percent of search market share, outstripping its closest rival, Yahoo, by about 25 percent.
The acquisition of YouTube gives Google a greater ability to capture more of the online video and social networking advertising market. Buying YouTube may also give Google a competitive edge against News Corp., which owns social networking site MySpace. MySpace currently owns about 20 percent of the video-sharing market, according to Hitwise.
Schmidt and Google co-founder Sergey Brin said that beyond culture, Google was enticed by the "20-30 different ways" that Google and YouTube could work together.
When asked why they felt it was necessary to buy YouTube, given that Google has its own video product and video advertising outlets, Schmidt said that YouTube was the "clear winner on the social networking side of video."
YouTube will continue to maintain its own brand identity and offices in San Bruno, Calif.
Highlights --
YouTube and Google Video will continue to operate independently of each other.
YouTube...serves over 100 million videos per day... The site has captured 47.07 percent of the online video market, compared to Google's 11.09 percent. Google, meanwhile, holds about 50 percent of search market share, outstripping its closest rival, Yahoo, by about 25 percent.
The acquisition of YouTube gives Google a greater ability to capture more of the online video and social networking advertising market. Buying YouTube may also give Google a competitive edge against News Corp., which owns social networking site MySpace. MySpace currently owns about 20 percent of the video-sharing market, according to Hitwise.
Schmidt and Google co-founder Sergey Brin said that beyond culture, Google was enticed by the "20-30 different ways" that Google and YouTube could work together.
When asked why they felt it was necessary to buy YouTube, given that Google has its own video product and video advertising outlets, Schmidt said that YouTube was the "clear winner on the social networking side of video."
YouTube will continue to maintain its own brand identity and offices in San Bruno, Calif.
Labels: Current Events
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