Sundar Pichai Says Alphabet's Cloud Backlog Hit $514 Billion After 82% Revenue Growth Last Quarter. Is Google Cloud Becoming a Bigger Growth Driver Than Search?
Search still pays the bills, but Google Cloud's backlog now exceeds the entire company's revenue.
In 2006, Google made a significant move in the business world by acquiring YouTube for $1.65 billion in an all-stock deal. At that time, Google's market capitalization stood at a modest $130 billion, and the concept of streaming media was still in its infancy. Despite the potential challenges and costs associated with such major acquisitions, Google's decision proved to be a game-changer.
Over a decade later, YouTube has proven to be a powerhouse, driving a nearly $93 billion business under Alphabet's umbrella, which absorbed Google in 2015. As YouTube continues to grow, it remains a crucial component of Alphabet's $93 billion business, demonstrating the long-term success of Google's strategic investment.
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- Google Bought YouTube for $1.65 Billion in 2006. The Streaming Platform Is Now the Main Driver of a Roughly $93 Billion Business at Alphabet. fool.com
- Google Bought YouTube for $1.65 Billion in 2006. The Streaming Platform Is Now the Main Driver of a Roughly $93 Billion Business at Alphabet. nasdaq.com
