This is just too funny to pass up, Gizmodo has named the YouTube / Google deal


Google buys YouTube: GooTube.
Apparently the rumor that Google was buying YouTube was less of a rumor than someone on the inside letting it slip out to the entire world. But now that Google’s paid $1.65 billion in an all-stock acquisition—which is their most expensive purchase so far—all 67 of YouTube’s employees are giving each other naked high fives and bathing in expensive champagne.

BoingBoing also had some good comentary…

Google buys YouTube: GooTube.
Gizmodo dubbed the deal GooTube. The ginormous search company agreed to purchase the profitless video-sharing startup started by twentysomethings for $1.65 billion in stock. Today, most bystanders are flabbergasted. Wait five years, and it will probably all make sense, whatever form of sense it ends up making. That’s how the internet works.

I personally was thinking “Tubel“, but GooTube is so much more fun!

The Register thinks that Google Management are a bunch of vidiots to take on so many potential problems with this buyout…

‘Moronic’ video deal buys Google legal woes?

So Sue Me

Google’s $1.6bn purchase of YouTube is “moronic”, says entrepreneur Mark Cuban.

His conclusion is not for the most obvious reason: that YouTube has no revenue stream. Cuban’s argument is simple. Much of YouTube’s content is copyright clips, and the company has built its business on the back of someone else’s creative works.

Nor is there much of a “community” to speak of here, either, unless one redefines community to include passers by and rubberneckers.

We understand the site is a popular with Jihadist terrorists, however, who’ve been using YouTube to exchange their own creative “user generated content”, beheadings and roadside bombs.

Like Google Video, YouTube maintains the fiction that the primary purpose of the site is amateur content, when it’s really about pro, copyright material.

And it’s in a Catch-22 situation. If the good stuff disappears, so do the eyeballs – taking with them Google’s most obvious chance of monetising its latest asset.