pies!

YouTube was founded by Chad Hurley, Steve Chen, and Jawed Karim, who were all early employees of PayPal. Prior to PayPal, Hurley studied design at Indiana University of Pennsylvania. Chen and Karim studied computer science together at the University of Illinois at Urbana-Champaign.The domain name “YouTube.com” was activated on February 15, 2005, and the website was developed over the following months. The creators offered the public a preview of the site in May 2005, and six months later, YouTube made its official debut.Like many technology start-ups, YouTube was started as an angel-funded enterprise in a small and inexpensive office or garage. In November of 2005, venture capital firm Sequoia Capital invested an initial $3.5 million additionally, Roelof Botha, partner of the firm and former CFO of PayPal, joined the YouTube board of directors. In April 2006, Sequoia put an additional $8 million into the company, which had experienced a boom of popularity and growth in just its first few months.During the summer of 2006, YouTube was one of the fastest-growing websites on the World Wide Web,and was ranked as the 5th most popular website on Alexa, far outpacing even MySpace’s growth.According to a July 16, 2006 survey, 100 million clips are viewed daily on YouTube, with an additional 65,000 new videos uploaded per 24 hours. The site has almost 20 million visitors each month, according to Nielsen/NetRatings, where around 44% are female, 56% male, and the 12- to 17-year-old age group is dominant. YouTube’s pre-eminence in the online video market is staggering. According to the website Hitwise.com, YouTube commands up to 64% of the UK online video market.On October 9, 2006, it was announced that the company would be purchased by Google for US$1.65 billion in stock. The purchase agreement between Google and YouTube came after YouTube presented three agreements with media companies in an attempt to escape the threat of copyright-infringement lawsuits. YouTube will continue to operate independently, and the company’s 67 employees and its co-founders will continue working within the company.The deal to acquire YouTube closed on November 13. It is Google’s biggest purchase to date.Though YouTube had done its part to comply with NBC’s demands, the incident made the news, giving YouTube its most prominent publicity yet. As the site continued to grow, NBC began to realize the possibilities, and in June 2006 made an unusual move. The network had reconsidered its actions and was announcing a strategic partnership with YouTube. Under the terms of the partnership, an official NBC channel will be set up on YouTube, showcasing promotional clips for the series The Office. YouTube will also promote NBC’s videos throughout its site.CBS, which had previously also asked YouTube to remove several of its clips, followed suit in July 2006. In a statement indicative of how the traditional media industry’s perception of YouTube (and similar sites) has changed, Sean McManus, president of CBS News and Sports noted:In August of 2006, YouTube announced that, within 18 months, it hopes to offer every music video ever created, while still remaining free of charge. Warner Music Group and EMI have confirmed that they are among the companies in talks to implement this plan.In September Warner Music and YouTube signed a deal, in which YouTube will be allowed to host every music video Warner produced while sharing a portion of the advertisement income. Additionally, user-created videos on YouTube will be allowed to use Warner songs in their soundtracks.

Infomation from: http://en.wikipedia.org/wiki/YouTube

 YouTube is the most popular website where you can upload or watch videos.It is created by three youngsters  by the names of Chad Hurley,Steve Chan and Jawed Karim.It was first created in the year of 2005.I didn’t know that doing something for fun can lead us to success.We can also learn something from videos at YouTube,such as videos that helps us pronounce the words and also videos that helps us in our studies .For example,if we want to watch videos regarding science,we can just type on the search bar the topic we are searching for.

 ” The key thing is that the biggies are all coming from small groups of inviduals with bright ideas. For us to get our share, we need to be able to attract some people with some ideas and give them a launch pad to develop these ideas and plug into the global market. “

In my opinion,Mr Balakrishnan is trying to attract more youngsters like the three university students to develop bright ideas for a chance to plug into the global market.The government will give them money to start to develop their ideas and make the company gain more profits.:)