Tuesday, October 10, 2006

How Was "YouTube" Named?

YouTube is a popular free video sharing web site which lets users upload, view, and share video clips. Founded in February 2005 by three employees of PayPal, the San Mateo-based service utilizes Adobe Flash technology to display video. The wide variety of site content includes movie and TV clips and music videos, as well as amateur content such as videoblogging. It is staffed by 67 employees.

YouTube was founded by Chad Hurley, Steve Chen, and Jawed Karim, who were all early employees of PayPal. Prior to PayPal, Hurley studied design at Indiana University of Pennsylvania. Chen and Karim studied computer science together at the University of Illinois at Urbana-Champaign. The domain name "YouTube.com" was activated on February 15, 2005, and the website was developed over the following months. The creators offered the public a preview of the site in May 2005, and six months later, YouTube made its official debut.

The company's humble beginnings in a garage and commitment to offering free services necessitated outside financial backing. In November of 2005, venture capital firm Sequoia Capital invested an initial $3.5 million; additionally, Roelof Botha, partner of the firm and former CFO of PayPal, joined the YouTube board of directors. In April 2006, Sequoia put an additional $8 million into the company, which had experienced a boom of popularity and growth in just its first few months.

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posted by Staff @ 8:49 AM