09/10/2006
Google Inc. acquired YouTube for $1.65 billion in a stock-for-stock transaction.
The purchase agreement between Google and YouTube came after YouTube presented three agreements with media companies in an attempt to escape the threat of copyright-infringement lawsuits. YouTube will continue operating independently, with its co-founders and 67 employees working within the company. The deal to acquire YouTube closed on November 13, and was, at the time, Google's second largest acquisition.