Three young founders of YouTube, the most popular online video service on the internet, earned more than $700 million when their company was acquired by Google last year, reported the Wall Street Journal (WSJ) in its online edition.
Google, the internet search company, paid $1.65 billion for the acquisition of YouTube last year, according to the WSJ online edition. Co-founder Chad Hurley, a 29-year-old, was compensated with Google shares currently valued at over $345 million. The shares of 28-year-old co-founder Steve Chen are worth $326.2 million, while Jawed Karim, who left the company to continue his academic career before the agreement with Google was reached, earned shares worth $64.6 million. Another significant shareholder in YouTube was the venture capital firm Sequoia Capital, whose holdings include 941,027 Google shares valued at over $442.3 million, the WSJ report states
citing a report that Google submitted to regulators on Wednesday. (H)
