Google is planning to acquire YouTube for a staggering $1 billion, the latest in a string of acquisitions that has helped it reshape the world’s most popular video-sharing platform.
The US search giant, which is valued at $10.5 billion by analysts, will take over YouTube’s operations, but also take a stake in the platform, which had previously been run by Google’s parent company, Alphabet, and other partners.
The deal comes amid a sharp fall in search advertising revenues as advertisers increasingly rely on video, rather than other forms of advertising.
The acquisition of YouTube, which allows users to upload and upload videos to their own accounts, could allow Google to better monetise its video services, said Andrew Hoberman, analyst at Wedbush Securities.
“It will be a big deal for Google,” he said.
Google has been acquiring video-based content for years. “
That’s a good thing for the ad business as well.”
Google has been acquiring video-based content for years.
Last year, it acquired the digital rights management company VideoAds for $400 million.
The company also bought the video streaming service Vuforia for $750 million last year.
Last month, it bought the music streaming service Deezer for $3.5bn.
The move comes just weeks after Google’s rival Facebook, which dominates online video, announced a $2 billion buyout of video-streaming platform Beats.
The deal is expected to close in the next 12 months.
But the acquisition of one of the most popular streaming services could pose a challenge to Facebook, given the fact that YouTube has more than 100 million users.
YouTube’s growth has been driven by the success of its video-sharers.
The site has been the main platform for many people to upload videos of their own and share them on Facebook.
YouTube has also grown in popularity among younger people, as well as the young and old, among the population.
The $1.7 billion acquisition of Vimeo by Google was announced last month, with YouTube chief executive Susan Wojcicki saying it would be “a major milestone” for the company.
Google has a lot to gain from the acquisition.
Google is widely recognised as one of America’s most innovative companies, with its products including Gmail, YouTube and Maps, among others.
It is also the most valuable US company by market capitalisation, according to Bloomberg.