Google snaps up YouTube
INTERNET search giant Google has finally snapped up video-sharing website YouTube in an £88 million deal following a weekend of intense speculation.
The price makes the free website, which is still an unprofitable start-up, Google's most expensive acquisition in its eight year history.
YouTube, which has 100 million videos viewed every day and an estimated 72 million individual visitors each month, is to retain its brand and its 67 employees, including founders Chad Hurley and Steve Chen.
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Saturday 18 February 2012
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