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<p>On October 9, 2006, it was announced that the company would be purchased by Google for US$1.65 billion in stock, which was completed on November 13. At that time it was Google's second-largest acquisition.[17] The agreement between Google and YouTube came after YouTube presented three agreements with media companies in an attempt to avoid copyright-infringement lawsuits. YouTube planned to continue operating independently, with its co-founders and 68 employees working within Google.[18]

Google's February 7, 2007 SEC filing revealed the breakdown of profits for YouTube's investors after the sale to Google. In 2010, Chad Hurley's profit was more than $395 million while Steve Chen's profit was more than $326 million.[19]On October 9, 2006, it was announced that the company would be purchased by Google for US$1.65 billion in stock, which was completed on November 13. At that time it was Google's second-largest acquisition.[17] The agreement between Google and YouTube came after YouTube presented three agreements with media companies in an attempt to avoid copyright-infringement lawsuits. YouTube planned to continue operating independently, with its co-founders and 68 employees working within Google.[18]

Google's February 7, 2007 SEC filing revealed the breakdown of profits for YouTube's investors after the sale to Google. In 2010, Chad Hurley's profit was more than $395 million while Steve Chen's profit was more than $326 million.[19]</p>
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