free html hit counter Google's YouTube Acquisition Closes - John Battelle's Search Blog

Google's YouTube Acquisition Closes

By - November 14, 2006

Google-Youtube-Yahoo-Facebook NfnIt’s official; the knot is tied between Google and the social video search darling, YouTube. Now people will really start looking for ‘that YouTube thing‘.

Details, from the pre-nup press release:

In connection with the acquisition Google issued an aggregate of 3,217,560 shares, and restricted stock units, options and a warrant exercisable for or convertible into an aggregate of 442,210 shares, of Google’s Class A common stock. The number of shares of Class A common stock issued and issuable by Google was calculated by dividing $1.65 billion less certain amounts (approximately $15 million) funded to YouTube by Google between signing and closing by the average closing price for the 30 trading days ending on November 9, 2006. 12.5% of the equity issued and issuable in the transaction will be subject to escrow for one year to secure certain indemnification obligations.

Chad Hurley, CEO and co-founder of YouTube, added they plan to “roll out many new exciting features and programs to benefit the creativity and participation of our community” over the next few months.

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One thought on “Google's YouTube Acquisition Closes

  1. So a bullshit!Now google will show us only the commercial videos to make money with it!