Google agreed to buy privately-held YouTube Inc. in an all-stock deal worth about $1.65 billion.
Rumored since last week, the news drove Google’s stock up $8.50 today, following Friday’s nice point gain.
Given Google’s 215 million share float, this acquisition was essentially free.
instantly catapults Google to the top of the pile in the fast growing world of online video. And if anyone can figure out how to monetize serving ads to YouTube’s users, its Google.