MOUNTAIN VIEW, Calif., November 13, 2006 Google Inc. (NASDAQ: GOOG)
announced today that it has closed its acquisition of YouTube, the consumer
media company for people to watch and share original videos. In connection
with the acquisition Google issued an aggregate of 3,217,560 shares, and restricted
stock units, options and a warrant exercisable for or convertible into an aggregate
of 442,210 shares, of Google's Class A common stock. The number of shares of
Class A common stock issued and issuable by Google was calculated by dividing
$1.65 billion less certain amounts (approximately $15 million) funded to YouTube
by Google between signing and closing by the average closing price for the
30 trading days ending on November 9, 2006. 12.5% of the equity issued and
issuable in the transaction will be subject to escrow for one year to secure
certain indemnification obligations.
"We are excited to have closed the acquisition in order to begin collaborating
to offer the best in quality and depth of content, user experience
and new business opportunities for our partners," said Eric Schmidt,
Chief Executive Officer of Google. "YouTube and Google will together
provide innovative and exciting services for our users that will add
a new dimension to on-line media entertainment. We look forward to
working with content creators and owners large and small to harness
the power of the internet to promote, distribute and monetize their
content."
"Google's expertise, technology leadership, and resources will provide
us with the flexibility to innovate and build the best, most entertaining
service on the Internet. In the coming months, we will roll out many
new exciting features and programs to benefit the creativity and participation
of our community," said Chad Hurley, CEO and Co-Founder of YouTube.
"The community will remain the most important part of YouTube and we
are staying on the same course we set out on nearly one year ago. We
will continue to gather and listen to its feedback and are looking
forward to the many opportunities that lie ahead."
About Google Inc.
Google's innovative search technologies connect millions of people
around the world with information every day. Founded in 1998 by Stanford
Ph.D. students Larry Page and Sergey Brin, Google today is a top web
property in all major global markets. Google's targeted advertising
program provides businesses of all sizes with measurable results, while
enhancing the overall web experience for users. Google is headquartered
in Silicon Valley with offices throughout the Americas, Europe and
Asia. For more information, visit www.google.com.
About YouTube
Founded in February 2005, YouTube is a consumer media company for people
to watch and share original videos worldwide through a Web experience.
YouTube allows people to easily upload and share video clips on www.YouTube.com and
across the Internet through websites, blogs, and e-mail. YouTube currently
delivers more than 100 million video views every day with 65,000 new
videos uploaded daily and it has quickly become the leading destination
on the Internet for video entertainment.
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Google is a registered trademark of Google Inc. All other company and
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trademarks of the respective companies with which they are associated.
Contacts:
Media
Gabriel Stricker
650.253.0139
gstricker@google.com
Julie Supan
650.827.6168
press@youtube.com
Investors
Maria Shim
650.253.7663
marias@google.com

