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Selling to Mountain View-based Google will give YouTube more technological muscle and advertising know-how, as well as generate a staggering windfall for a company that was running on credit card debt just 20 months ago. To conserve money as it subsisted on $11.5 million in venture capital, YouTube had been based in an austere office above a San Mateo pizzeria until recently moving to more spacious quarters in a neighboring city.


Google to buy YouTube for $1.65 billion (Reuters)
Reuters - Web search leader Google Inc. said on Monday it agreed to acquire top video entertainment site YouTube Inc. for $1.65 billion in stock, the highest price yet paid for a consumer-generated media site.