Google Acquires Youtube Video for $1.6 Billion in Stock Securities

October 9th, 2006 | Posted by Editorial Staff in Stock Market

Today internet giant Google purchased Youtube for $1.65 billion as it increases its market share in the internet video industry to nearly 56%. The aggressive move should pay big dividends in the future because Google, unlike Youtube, understands how the internet works. Google will upgrade Youtube’s platform, make downloading videos easier , and allow web searches to become more video friendly.

If you currently visit Youtube on a frequent basis, prepare for a newer, faster, and more friendly Youtube by Google Inc. Shares of Google Inc. (GOOG) gained 2% at the market close and rose an additional $2.75 during after-hours trading. Look for Google to reach $450 by the end of December. Google looks invincible right now.

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