Thursday, February 08, 2007

Google's YouTube Pact Spawns Big Paydays -

"YouTube co-founder Chad Hurley was paid in Google shares with a current indicated value of more than $345 million. He received 694,087 Google shares and another 41,232 shares in a trust. Yesterday in 4 p.m. composite trading on the Nasdaq Stock Market, Google fell $1.47 to $470.01, indicating a value for Mr. Hurley's stake of $345.6 million.
Co-founder Steve Chen received 625,366 Google shares and another 68,721 in a trust, indicating his stake is valued at $326.2 million. Jawed Karim, the third co-founder, received 137,443 Google shares, with an indicated value of $64.6 million.
Meanwhile, Sequoia Capital's holdings include 941,027 Google shares as part of its Sequoia Capital XI fund, with an indicated current value of more than $442.3 million. Sequoia Capital was one of the early investors in Google and one of its partners, Michael Moritz, now sits on the Google board."

At the time of the deal, YouTube had been around for 19 months and had 67 employees, making it a symbol of possible excess in the current Web boom. YouTube had exploded into the popular consciousness with its user-friendly online video site that allowed consumers to post their own videos and view others'. While the company wasn't profitable, YouTube has said consumers were viewing videos through its service more than 100 million times daily, making it a highly valuable Internet property.

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