History of YouTube
YouTube was collectively founded by early employees of PayPal, namely Chad Hurley, Steve Chen and Jawed Karim. Hurley had studied design at Indiana University of Pennsylvania, while Chen and Karim were students of computer science and class-fellows at the University of Illinois at Urbana-Champaign.
YouTube started functioning as a small enterprise to be funded for technology startup, in the beginning from an investment of USD: 11.5 million granted by Sequoia Capital during the years 2005 – 2006. The early bases of YouTube were installed above a pizzeria and Japanese restaurant in San Mateo, California.
www.youtube.com, which is the domain name, was launched no net on February 14, 2005, while the website was further developed in the subsequent months. The pioneering YouTube video entitled ‘Me at the zoo’ broadcasted founder Jawed Karim at San Diego Zoo. The video was uploaded on April 23, 2005. It can be accessed on Youtube even todate.
In May 2005, YouTube offered the public a beta test of the site, six months prior to the official launch of the website in November 2005. The site experience a rapid growth, and by July 2006 the company disclosed that more than 65,000 new videos were allowed to be uploaded a day, the site used to witness some 100 million video views per day.
As per data released by a market research company, comScore, YouTube has been a leading provider of online video in the United States, having a market share of about 43 percent and over six billion videos watched or accessed by January 2009.
It is being speculated that every second hundreds of videos keep uploading round the clock, of which about ¾th of the whole video material is uploaded from outside the United States. Moving with this pace, by the year 2007 YouTube had covered bandwidth to a tune of the size of the entire Internet in the year 2000.
By March 2008, the costs incurred on YouTube’s bandwidth were estimated to be approximately USD: 1 million per day. YouTube is ranked by Alexa as the FOURTH MOST VISITED WEBSITE on the Internet, after Google, Yahoo! and Facebook.
In 2006, Google Inc. issued the statement that it had purchased YouTube for US$1.65 billion in Google stock, and as such the deal was to be finalized on November 13, 2006. However, Google does not provide for the exact figures of YouTube’s running expances, and the revenues generated by YouTube’s in 2007 were declared as “not material” while going through monetary regulation.
November 2008 witnessed YouTube reach an agreement with MGM, Lions Gate Entertainment and CBS, permitting different cyber enterprises to upload full-length movies and television episodes on their sites, attended by advertisements sections, US viewers would call ‘Shows’.
The provision of Shows was required to allow competition with websites such as Hulu, that featured contents from Fox, NBC, and Disney. By November 2009, YouTube broadcasted a version of “Shows” accessible to UK viewers, allowing 4000 full length shows from over 60 members.