October 9, 2006

Google to acquire YouTube for $1.65 Billion.. Got this confirmed..

Got a mail from Google Press !!

As I posted in my previous post, at that time, it was not confirmed, but now, its been confirmed. YouTube will now work together with Google to make touch new Horizons..

MOUNTAIN VIEW, Calif., October 9, 2006 - Google Inc. (NASDAQ: GOOG)
announced today that it has agreed to acquire YouTube, the consumer
media company for people to watch and share original videos through a
Web experience, for $1.65 billion in a stock-for-stock transaction.
Following the acquisition, YouTube will operate independently to
preserve its successful brand and passionate community.

The acquisition combines one of the largest and fastest growing online
video entertainment communities with Google's expertise in organizing
information and creating new models for advertising on the Internet.
The combined companies will focus on providing a better, more
comprehensive experience for users interested in uploading, watching
and sharing videos, and will offer new opportunities for professional
content owners to distribute their work to reach a vast new audience.

"The YouTube team has built an exciting and powerful media platform
that complements Google's mission to organize the world's information
and make it universally accessible and useful," said Eric Schmidt,
Chief Executive Officer of Google.  "Our companies share similar
values; we both always put our users first and are committed to
innovating to improve their experience. Together, we are natural
partners to offer a compelling media entertainment service to users,
content owners and advertisers."

"Our community has played a vital role in changing the way that
people consume media, creating a new clip culture. 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," said
Chad Hurley, CEO and Co-Founder of YouTube.  "I'm confident that
with this partnership we'll have the flexibility and resources needed
to pursue our goal of building the next-generation platform for serving
media worldwide."

When the acquisition is complete, YouTube will retain its distinct
brand identity, strengthening and complementing Google's own
fast-growing video business.  YouTube will continue to be based in San
Bruno, CA, and all YouTube employees will remain with the company. With
Google's technology, advertiser relationships and global reach,
YouTube will continue to build on its success as one of the world's
most popular services for video entertainment.

The number of Google shares to be issued in the transaction will be
determined based on the 30-day average closing price two trading days
prior to the completion of the acquisition. Both companies have
approved the transaction, which is subject to customary closing
conditions and is expected to close in the fourth quarter of 2006.

Webcast and Conference Call Information

The company will host a conference call and webcast at 1:30 p.m.
Pacific Time (4:30 p.m. Eastern Time) today to discuss the acquisition.
 To access the conference call, please dial 800-289-0572 domestic and
913-981-5543 internationally.  A replay of the call will be available
until midnight Monday, October 16 at 888-203-1112 domestically and
719-457-0820 internationally.  Confirmation code for the replay is
2260624.

A live audio webcast of the conference call will be available at
http://investor.google.com/webcast.html.

About Google Inc.
Google's innovative search technologies connect millions of people
around the world with information every day. Founded in 1998 by
Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a
top web property in all major global markets. Google's targeted
advertising program provides businesses of all sizes with measurable
results, while enhancing the overall web experience for users. Google
is headquartered in Silicon Valley with offices throughout the
Americas, Europe and Asia. For more information, visit www.google.com.

About YouTube
Founded in February 2005, YouTube is a consumer media company for
people to watch and share original videos worldwide through a Web
experience. YouTube allows people to easily upload and share video
clips on www.YouTube.com and across the Internet through websites,
blogs, and e-mail. YouTube currently delivers more than 100 million
video views every day with 65,000 new videos uploaded daily and it has
quickly become the leading destination on the Internet for video
entertainment.

Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding Google's and YouTube's ability to
improve their services, create new business models and content-owner
opportunities, integration plans, the expected timing for the closing
of the acquisition and the plans to operate YouTube independently.
These statements are based on the current expectations or beliefs of
management of Google Inc., and are subject to uncertainty and changes
in circumstances. Actual results may vary materially from those
expressed or implied by the statements herein due to (1) changes in
economic, business, competitive, technological and/or regulatory
factors, (2) failure to receive regulatory approval for the
acquisition, (3) failure to retain the levels of traffic on the YouTube
site, (4) failure to compete successfully in this highly competitive
and rapidly changing marketplace, (5) failure to retain key employees,
(6) other factors affecting the operation of the respective businesses
of Google and YouTube, and (7) the failure of YouTube and Google to
work together effectively. More detailed information about these
factors may be found in filings by Google, as applicable, with the
Securities and Exchange Commission, including their respective most
recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q.
Google is under no obligation to, and expressly disclaims any such
obligation to, update or alter their respective forward-looking
statements, whether as a result of new information, future events, or
otherwise.