Google buys YouTube for $1.65 Billion in stock

Yes folks, that is Billion with a B. According to the press release, YouTube will keep it’s brand name ( duh ) as well as all of its employees. Eventually the plan is to merge Google Video and YouTube.
Now I’m a Google fan through and through – I haven’t used another search engine in years, I only use Gmail, I use Analytics, Adsense, and Adwords. Anytime Google buys or releases a new product, I’m interested because Google does most of their things right. I’ll be the first to say that I do not understand this purchase at all. YouTube has crushing bandwidth costs, and a very very small revenue stream. To spend over one and a half Billion dollars on such a hugely unprofitable company doesn’t seem to make much sense to me. Apparently the folks at Google think differently. We’ll keep an eye on this one.

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