Under terms of the deal, the YouTube site will retain its name and branding, and YouTube's small staff will remain in their San Bruno, California offices and not move to Google's main campus. But Google's bid was apparently higher than the others, and Google of course is dominant in many other online markets, so it brings a wealth of related services to the table as well.
The deal gives Google the upper hand in the emerging market for home-made and popularity-driven online videos, a market that YouTube itself started less than a year ago.Īccording to reports, companies such as Microsoft, News Corporation, Viacom, and Yahoo were all interested in purchasing YouTube as well. On Monday, Internet search giant Google announced that it would purchase video sharing sensation YouTube for $1.65 billion in stock.
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