Top 10 US mergers and acquisitions of the last two decade
Founded just one year prior in 2005, Google was quick to snap up YouTube in 2006, acquiring the company for US$1.65bn. Today YouTube has a market value of US$160bn.
"The YouTube team has built an exciting and powerful media platform that complements Google's mission to organise the world's information and make it universally accessible and useful," commented Eric Schmidt, Chief Executive Officer of Google.
"By joining forces with Google, we can benefit from its global reach and technology leadership to deliver a more comprehensive entertainment experience for our users and to create new opportunities for our partners,” added Chad Hurley, co-founder of YouTube.
Date: October 10 2006