Let the craziness begin as the purchase was Google's largest to date and for the "small" sum of only US$1.65 billion (AU$2.2 billion). Holy jumpin!
For those of you new to YouTube, it is a place for people to view, share and comment on web-based videos. If it still doesn't ring a bell, then talk to a teenager or anyone who spends a lot of time on the web. Starting as a personal video sharing service, it has grown into an entertainment phenomenon with people watching more than 70 million videos a day.
In fact since it's inception in February 2005, by two twenty-something Californians Chad Hurley and Steve Chan, YouTube has become the web's most visited repository for animated videos