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Founded just one year prior in 2005 , Google was quick to snap up YouTube in 2006 , acquiring the company for US $ 1.65bn . Today YouTube has a market value of US $ 160bn . “ The YouTube team has built an exciting and powerful media platform that complements Google ’ s mission to organise the world ’ s information and make it universally accessible and useful ,” commented Eric Schmidt , Chief Executive Officer of Google . “ By joining forces with Google , we can benefit from its global reach and technology leadership to deliver a more comprehensive entertainment experience for our users and to create new opportunities for our partners ,” added Chad Hurley , co-founder of YouTube . DECEMBER 2020