Google Buys YouTube For 1.6 Billion


Well, the rumors were true, Google just bought the online video sharing service YouTube for 1.6 billion in stock. TechCrunch has more info on the deal, which ended up being a bidding war between Google and Yahoo. Personally I think this is great news for smaller, more community oriented online video services like Revver and, which now have even more room to grow and evolve.

UPDATE: YouTube founders Chad Hurley and Steve Chen have uploaded a video about the buyout.