I have taken this directly out of their financial statement: – so it seems like the 1.6 billion are a light breakfast for Google (GOOG).. considering Google isn’t´t even spending any cash for this transaction what is their plan to do with the 10 billion dollars?
Cash – “As of June 30, 2006, cash, cash equivalents, and marketable securities were $9.82 billion. This balance reflects the net proceeds of $2.06 billion from the public offering that closed in early April as well as the impact of the cash investment of $1 billion in AOL in early April.”
The FT writes in today’s edition:
Google, the internet search giant, has agreed to acquire YouTube, the California-based video start-up, for $1.65bn in an all-stock transaction that will turn the company’s 20-something co-founders into instant multi-millionaires.
The deal makes YouTube – which has yet to turn a profit but which has grown into one of the most popular internet destinations with 100m daily video viewings – the first site dedicated to user-generated content to be sold for more than $1bn, setting a new price level for the sector..
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