Introduction
In 2006, YouTube was acquired by Google for $1.65 billion. But what led to this acquisition and what impact did it have on the video sharing platform?
History of YouTube
YouTube was founded in 2005 by three former PayPal employees. The platform quickly gained popularity as a video sharing site, with millions of users uploading and sharing videos every day.
- In 2005, YouTube was founded
- In 2006, YouTube was acquired by Google
Reasons for Acquisition
Google acquired YouTube to expand its reach in the online video market and to leverage YouTube's massive user base.