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October 06, 2006
De-evolving the future: Google-Borg gorging on YouTube?
Via the Globe and Mail, the Wall Street Journal's reporting "Google Inc. is in talks to acquire the on-line video site YouTube Inc. for about $1.6 billion. "Such a deal would represent one of the fastest creations of wealth in Internet history. YouTube was founded just last year in a Silicon Valley garage. 
The startup claims to already account for 60% of all videos watched on-line. The site attracts nearly 20 million unique visitors each month... The Journal cited a single, unidentified source it said is familiar with the matter. It said discussions remain at a "sensitive stage" and could break off at any time. The rumour was first circulated by Michael Arrington, editor of a blog called TechCrunch. Google, the world's largest search engine, has... a large war chest of nearly $10-billion in cash." Newsweek considers whether it's worth a billion here: "Warner Music.... digital-strategy exec Alex Zubillaga says he felt something like sympathy during a recent dealmaking visit to the firm's Silicon Valley headquarters. YouTube's 60 employees—who share a grand total of 10 landline phones—are so crammed into small offices over a pizzeria in downtown San Mateo that Zubillaga says, "I almost felt bad for them."
Posted by Ray Pride at October 6, 2006 02:52 PM
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