Alphabet has become one of the world’s largest technology conglomerates, with a market capitalization of $2.05 trillion as of Aug. 22, 2024. The company posted a net income of $73.80 billion on revenue of $307.39 billion for 2023. Revenue increased 8.7% from 2022, and net income increased 23.05%. According to the company’s 2023 report, Doerr holds 2,911,880 Class A shares and 22,348,940 Class B shares of Alphabet, which is 2.57% of the company’s total Class B shares outstanding.
Overall, Alphabet made $46 billion in revenue in the quarter that ended December 31st, 2019, a 17 percent jump over 2018. Google’s search business remains the big moneymaker of Alphabet’s sprawling empire, earning $27.2 billion for the quarter. But alongside YouTube ad revenue, Google is also disclosing the financial performance of its cloud computing division. Google Cloud made $2.6 billion in revenue for the quarter, the report reveals. In November 2006, Google acquired YouTube for $1.65 billion in stock. This acquisition was a significant milestone in the history of YouTube, as it provided the platform with the resources and expertise needed to grow and expand.
Business model, advertising, and profits
YouTube quickly became one of the web’s fastest-growing sites, and was ranked as the 10th most popular website just a year after its launch. There are reportedly 100 million clips viewed daily on YouTube, with an additional 65,000 new videos uploaded every 24 hours. Under Google, YouTube expanded its offerings and optimized its platform to better serve both content creators and viewers. Recognizing the potential of user-generated content, Google infused YouTube with resources and tools such as Google AdSense, basics of forex trading for beginners enabling creators to monetize their content efficiently.
Alphabet stock price today
In February 2006, NBC requested YouTube to withdraw one of the former’s broadcast SNL clips (”Lazy Sunday”), citing copyrights infringement. However, NBC later changed its tune and proposed that YouTube would promote its fall’s TV lineup. This deal paved the way for profitable partnerships with other content providers. The immense growth in traffic at YouTube created its own set of problems. The company continually had to purchase more computer equipment and more broadband connections to the Internet.
- Based in New York City, it maintains offices around the world and operates in over 100 countries.
- That year, he and Hurley sold YouTube to Google, Inc. for $1.65 billion in stock.
- Google, a giant you’re all too familiar with, announced its acquisition of YouTube for a whopping $1.65 billion in stock.
- In business, it’s not so much about who owns most but who controls the most.
Today, we will explain who owns YouTube, how the platform rose to success, and How to buy hex coin the massive impact it has on the Internet. Headquartered in San Bruno, California, YouTube is by far the most popular video-sharing platform, with users collectively watching more than a billion hours of videos per day. Since Google’s acquisition, the platform started generating revenue from sources like advertising, paid and exclusive content, and a paid subscription option, YouTube Premium, that removes ads from videos.
Moderation and offensive content
As of 2019, about 1.3 billion people use YouTube, and about 300 hours of videos are uploaded every minute. Each day about 5 billion videos are watched around the world, and there are about 30 million visitors each day. When Google stepped into the scene and acquired YouTube for $1.65 billion in stock back in November 2006, it wasn’t just buying a video-sharing platform. YouTube was founded on February 14, 2005, by three former PayPal employees, Chad Hurley, Steve Chen, and Jawed Karim. The idea for the platform was born out of a difficulty in finding and sharing videos online.
Then, in February 2019, YouTuber Matt Watson posted about what he described as a “soft-core pedophilia ring” living in the comments on YouTube videos featuring children. YouTube responded by disabling comments on videos featuring children. Meanwhile, YouTube had been working on deals of its own with the music labels in hopes of avoiding costly copyright lawsuits. In September 2006, Levine and Chris Maxcy — one of the earliest YouTube employees in charge of business development for the site — closed a deal with Warner Music. This subscription service provides advertisement-free access to YouTube content.
Steve Chen
It hosts an eclectic array of content, from educational tutorials to personal vlogs curated by influencers. YouTube is known as the go-to video platform for both short and long-term video atfx broker review content and is heavily influential on a global scale, from business to politics. After graduating from the University of Illinois at Urbana-Champaign, Chen worked at PayPal, where he met Chad Hurley and Jawed Karim. In 2005, the three founded YouTube, a website designed to simplify video sharing online. Google’s acquisition of YouTube stands as a testament to the power of strategic vision and innovation.
The site was officially launched on December 15, 2005, during which time it was receiving approximately 8 million views each day. By July 2006, about 65,000 new videos were being uploaded on YouTube each day, and there were approximately 100 million views per day. In November 2006, YouTube was acquired by Google for $1.65 billion, and it is now one of the subsidiaries of Google. Set up in 2005 by three former PayPal employees and originally intended to be a dating service, YouTube is now the world’s most popular online video-sharing platform.
This move not only bolstered YouTube’s growth but also attracted a diverse range of content creators, from budding artists to established media houses. Initially, YouTube was founded by three former PayPal employees who saw an untapped opportunity in the video-sharing market. However, it’s under Google’s wing that YouTube transformed into the powerhouse we know today. This transition marked a milestone in the digital content era, emphasizing the importance of strategic acquisitions. As an entrepreneur and business enthusiast, you’ve likely followed YouTube’s impressive journey in the digital landscape. Its evolution in ownership is a captivating tale of strategic moves and visionary thinking.
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