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YouTube Founders Cash In
YouTube founders Chad Hurley and Steve Chen registered today to sell 3.23 million shares of Google stock.
YouTube Founders Cash In
Bloomberg.com is reporting that the two young entrepreneurs could stand to gain as much as $323.6 million when they sell the shares that were given to them when YouTube sold to Google last November for $1.65 billion.
"The fact that an acquisition of such a young company took place at such a large scale does say something about the speed with which business is moving in Silicon Valley,'' said Sean Randolph, president of the Bay Area Economic Forum, a San Francisco-based group the promotes economic development."
More power to them. Hopefully they won't be the last to get filthy rich from online video.