Yahoo exec rips Google for overpaying for YouTube - CNET
Summary
Steven Mitzenmacher, a Yahoo senior director of corporate development, is skeptical that Google has recouped the $1.65 billion the search company paid in October 2006 to acquire YouTube, the Webs top video-sharing site. According to a story in The Wall Street Journal, Mitzenmacher was speaking on a panel at the Global Technology Symposium in Menlo Park, Calif., on Friday. The paper reported Mitzenmacher was ballyhooing Yahoos plans for "a very big year" of acquisitions and vowed the company would come out "guns blazing." More recently there was Maven Networks, a Web video distribution service, which Yahoo acquired for a relatively inexpensive $160 million, only to shut it down less than two years later. And we ultimately concluded that $1.65 billion included a premium for moving quickly and making sure that we could participate in the user success in YouTube."
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