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Google's YouTube acquisition is official

Google + YouTubeWow. It's not every day that all the big rumors turn out to be true. Google has just officially announced its acquisition of YouTube for $1.65 billion in stock. The press release wastes no time in attempting to reassure fearful users--the press release's second sentence is, "Following the acquisition, YouTube will operate independently to preserve its successful brand and passionate community." It goes on to say that YouTube will strengthen and compliment Google's existing video business, and that it will retain all of its existing employees and remain headquartered in San Bruno, California. YouTube has yet to release a statement. I, for one, welcome our new GooTube overlords.

Tags: acquistion, business, google, merger, video, youtube

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