News
YouTube creators cashed in as did Sequoia Capital…
YOUTUBE’S creators walked away with hundreds of millions of dollars after the startup was bought by Google in 2006, according to documents released in a copyright brawl between Viacom and Google.
While former PayPal pals Chad Hurley, Steve Chen and Jawed Karim each scored fortunes in Google stock by selling YouTube to the Internet giant, a venture capital firm that backed the online video-sharing service landed the lion’s share of the wealth.
Sequoia Capital http://www.sequoiacap.com/ got US$516 million (S$722 million) worth of Google stock as a return on approximately US$9 million it invested in YouTube in late 2005 and early 2006, according to court documents made public this week.
Full Story: http://www.straitstimes.com/BreakingNews/TechandScience/Story/STIStory_504387.html
MATR Supporters (view all)