YouTube is a video-sharing website started by three ex Paypal employees namely Chad Hurley, Steve Chen and Jawed Karim in February 2005. This website lets users to upload, watch and share videos. It uses Adobe Flash Video and HTML5 technology to show immense array of videos, music videos and movie and TV clips.
As what I've mentioned above, YouTube was created by Chad Hurley, Steve Chen, and Jawed Karim, who all used to work in PayPal. Hurley had studied design at Indiana University, while Chen and Karim both studied computer science at the University of Illinois. It was during the early months of 2005 when Hurley and Chen thought of the idea for YouTube having experieced how hard it was to share videos that they've shot at Chen's apartment in San Francisco.
The domain name of Yutube went live on February 14, 2005, and since then the Youtube sustained to develop in the succeeding months. The popularity of Youtube is primarily due to the multi million deal with Sequoia Capital from 2005 to 2006. Just for some trivial info, Me at the Zoo video of one of the founders, Karim was the first ever video uploaded on Youtube. It was uploaded on April 23, 2005 and is still posted on the site up to now.
In October 2006, Google announced that it had acquired YouTube for $1.65 billion. The deal was closed on November 13, 2006. YouTube reached a contract with MGM, Lions Gate Entertainment and CBS in October 2008, permitting the media companies to upload full-length films and TV clips on Youtube. It also began free streaming of specific tournaments like cricket tournaments of the Indian Premier League in March 2010. This was the very first global free online broadcast of a major sporting tournament.
YouTube launched a new template on the last day of March 2010. They did it with the goal of simplifying the site's interface and increasing the time users give on the website. In May 2010, it was reported that YouTube served more than two billion videos per day nearly twice the prime-time viewers of all three major US television network companies combined together.
In October 2010, Hurley stepped down as head of YouTube with Salar Kamangar taking over as head of the company.
YouTube is now considered as the dominant provider of online video in the United States. They have the market share of around 43 percent with more than 14 billion videos viewed in May 2010. There are approximately 35 hours of new videos being posted on the site every minute. In 2007, YouTube consumed an estimate of as much bandwidth as the entire Internet in 2000. According to Alexa, YouTube is the third most visited website on the Internet, next to Google and Facebook.
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