The Google empire grows:
NEW YORK (CNNMoney.com) -- Google, the Internet's leading search engine, announced Monday that it is buying popular online video site YouTube for $1.65 million in stock.
YouTube, which was founded in February 2005, has quickly become the most well-known of several online video sites. More than 100 million videos, many of which are short videos created by the site's users, are downloaded a day on the site.Eat or be eaten.
In a statement, Google said that YouTube will operate as an independent unit of Google once the deal closes and will retain the YouTube brand name.