Google just announced via conference call that they are buying YouTube for $1.65 billion. This is great news for my company PodTech.net. We recently announced our new video programming with the launch of the ScobleShow. My show will come online this month and we will be doing more.
I’m assuming that Google will abandon the illegal business model of YouTube now that there exist ‘deep pockets’ for all those ‘napster lawyers’ looking for work.
What’s interesting the top indexed video site (YouTube) is bought by the top indexer (Google). The price was high. I wonder how they got that valuation and who passed on the deal. This past summer Chad and team did the big media rounds at Sun Valley. Great ROI on that vacation.
Most of the YouTube won’t be around predictions are right…they won’t be around. They are Google now. This also reminds me of the old saying “don’t listen to your parents”. It’s a new media model. 90% of the activity was illegal. Creating $1.65 billion on illegal activity to create the momentum and critical mass. Classic ‘tipping point’ example. Now Google will do the right deals and make this legal.
This is good news for PodTech.net and others. Big round of applause.