Google bought YouTube

Google has just announced that they have bought YouTube for a staggering US$1.65 billion (that's AU$2.22 billion)! This makes it the biggest purchase in the company's history.

Many people argues that YouTube will go down due to the number of copyright violations that makes most of its content. It will be interesting to see what Google will do with it. I believe Google have the capacity and resources to do something different and turn something into a cash cow when others are staying away from it. Google is, after all an advertising company not a search engine company as a lot of people may think.

Remember MySpace?

Google Press Center: Press Release