Google Buys YouTube for $1.65 Billion
Google has announced it is buying YouTube for $1.65 billion in stock. Let's talk about the big winners. The 3 founders will probably come away with about $200 million each, which isn't bad for 19 months of work. The 67 employees will also probably do fine. Sequoia Capital, which also funded Google btw, put in $11.5 million in two rounds (11/05 and 4/06). With a 30% stake, the VC firm will come out with a $483.5 million profit for less than a year of investing. Not too shabby indeed. Skype, YouTube, and the upcoming Facebook buy-out shows that the internet gold rush is alive and kicking. At what other period in history can entreprenuers literally make billions for less than 2 years of work? What a country!
