I guess that Google Video failed or they are too late into the video sharing world. Since they have the money from the public, why not just buy. Great for youtube founder who is most probably cashing in $1.6billion. Buying over means Google will own 58% of the online video sharing pie.
News via PC Mag
Updated News:
This is a done deal! Google bought YouTube for US $1.65billion. [ Via Slashdot ]
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