Search engine giant Google is to buy video sharing
start-up YouTube in a $1.65bn (£0.88bn) deal.
Google has its own video search engine, Google Video, which also
allows users to upload their own clips. But Google said YouTube
would continue to operate independently “to preserve its successful
brand and passionate community”.
YouTube’s continued separate identity would strengthen and
complement Google’s existing video service, the company said.
The search giant also sees the combined companies offering new
opportunities for professional content owners to distribute their
work to a wide audience.
Google chief executive, Eric Schmidt, said, “The YouTube team
has built an exciting and powerful media platform that complements
Google's mission to organise the world's information and make it
universally accessible and useful.
“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.”
YouTube co-founder and chief executive, Chad Hurley, said, “By
joining forces with Google, we can benefit from its global reach
and technology leadership to deliver a more comprehensive
entertainment experience for our users and to create new
opportunities for our partners.”