Google’s YouTube Acquisition Closes

It'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…

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.

One thought on “Google’s YouTube Acquisition Closes”

Leave a Reply

Your email address will not be published.