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For six years, the Internet Nexus served as my technology blog, but I've since started blogging at the SuperSite Blog instead. If you're looking for the blog, please head there. --Paul

Monday, October 09, 2006

Google to Acquire YouTube for $1.65 Billion

The New York Times:

Google announced this afternoon that it would buy YouTube, the popular video-sharing Web site, for stock that it valued $1.65 billion.

Google beat out a number of other heavy-hitting YouTube suitors, including Microsoft, Viacom, Yahoo and the News Corporation. By successfully negotiating the deal, Google has once again proved that it is the Internet’s dominant player.

The acquisition of YouTube will enable Google to thrive in one area of the Internet where it has so far failed to gain footing.

Actually, Google has failed in the IM space as well, but whatever. This deal is utter insanity.

[ Posted at 5:45 PM | Permalink ]