Google acquired YouTube for $1.65 billion in stocks
I am sure a lot of you have already heard about this, Google officially acquired YouTube yesterday with $1.65 billion in stocks and other consideration. This act slaps Mark Cuban right in his face. Read his blog post about
His prediction about Youtube's failure prior to the acquisition: http://www.blogmaverick.com/2006/09/29/riddle-me-this-copyright-gurus/
His thoughts on the acquisition before it went down:http://www.blogmaverick.com/2006/10/07/some-thoughts-on-youtube-and-google/
His thoughts on the acquisition after it happened:http://www.blogmaverick.com/2006/10/09/i-still-think-google-is-crazy/
Being in the industry of internet development, I really don't know what to think of this. Mark Cuban did raise a great point about potential detrimental law suits regarding copyright infringements and how "Gootube" is actively sorting out deals with various media companies to allow pretty much their contents to be pirated in return for sharing of revenues. It will be interesting to see how it plays out.
Anyhow, here's a video of the 2 founders, Chad and Steve, of YouTube sharing their thoughts on the acquisition.college textbooks