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Video Giant Just Grew

Following much speculation and rumors of secret negotiations, Google and YouTube have finally reached an agreement, and in a press release today, Google has announced that it has acquired the Video giant for $1.65 billion. In a short time, YouTube has become one of the fastest growing online video communities and now awaits further enhancements from Google, in order to provide customers with a more comprehensive experience.

In recent months, it was a rumor that YouTube was looking for a buyer and it seems as if the wait paid off with the astronomical bid Google laid on the table. The agreement has left the YouTubers with enough power to retain their distinct brand identity, strengthening and along the way also 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.

Both sides believe that working together will be a positive experience for both companies, and will give them an opportunity to provide customers with an ideal platform for uploading, watching and sharing videos, and will offer new opportunities for professional content owners to distribute their work to reach a vast new audience.