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YouTube is a global online video sharing and social media platform headquartered in San Bruno, California. It was launched on February 14, 2005, by Steve Chen, Chad Hurley, and Jawed Karim. It is owned by Google, and is the second most visited website, after Google Search. YouTube has more than 2.5 billion monthly users[7] who collectively watch more than one billion hours of videos each day.[8] As of May 2019, videos were being uploaded at a rate of more than 500 hours of content per minute.[9][10]
In October 2006, YouTube was bought by Google for $1.65 billion.[11] Google's ownership of YouTube expanded the site's business model, expanding from generating revenue from advertisements alone, to offering paid content such as movies and exclusive content produced by YouTube. It also offers YouTube Premium, a paid subscription option for watching content without ads. YouTube also approved creators to participate in Google's AdSense program, which seeks to generate more revenue for both parties. YouTube reported revenue of $19.8 billion in 2020.[12] In 2021, YouTube's annual advertising revenue increased to $28.8 billion.[1]
Since its purchase by Google, YouTube has expanded beyond the core website into mobile apps, network television, and the ability to link with other platforms. Video categories on YouTube include music videos, video clips, news, short films, feature films, documentaries, audio recordings, movie trailers, teasers, live streams, vlogs, and more. Most content is generated by individuals, including collaborations between YouTubers and corporate sponsors. Established media corporations such as Disney, Paramount, and Warner Bros. Discovery have also created and expanded their corporate YouTube channels to advertise to a larger audience.
YouTube has had an unprecedented social impact, influencing popular culture, internet trends, and creating multimillionaire celebrities. Despite all its growth and success, YouTube has been widely criticized. Criticism of YouTube includes the website being used to facilitate the spread of misinformation, copyright issues, routine violations of its users' privacy, enabling censorship, and endangering child safety and wellbeing.
Founding and initial growth (2005–2006)
From left to right: Chad Hurley, Steve Chen, and Jawed Karim, the founders of YouTube
YouTube was founded by Steve Chen, Chad Hurley, and Jawed Karim. The trio were early employees of PayPal, which left them enriched after the company was bought by eBay.[13] Hurley had studied design at the Indiana University of Pennsylvania, and Chen and Karim studied computer science together at the University of Illinois Urbana-Champaign.[14]
According to a story that has often been repeated in the media, Hurley and Chen developed the idea for YouTube during the early months of 2005, after they had experienced difficulty sharing videos that had been shot at a dinner party at Chen's apartment in San Francisco. Karim did not attend the party and denied that it had occurred, but Chen remarked that the idea that YouTube was founded after a dinner party "was probably very strengthened by marketing ideas around creating a story that was very digestible".[15]
Karim said the inspiration for YouTube first came from the Super Bowl XXXVIII halftime show controversy when Janet Jackson's breast was briefly exposed by Justin Timberlake during the halftime show. Karim could not easily find video clips of the incident and the 2004 Indian Ocean Tsunami online, which led to the idea of a video-sharing site.[16] Hurley and Chen said that the original idea for YouTube was a video version of an online dating service, and had been influenced by the website Hot or Not.[15][17] They created posts on Craigslist asking attractive women to upload videos of themselves to YouTube in exchange for a $100 reward.[18] Difficulty in finding enough dating videos led to a change of plans, with the site's founders deciding to accept uploads of any video.[19]
The YouTube logo used from its launch until 2007; it returned in 2008 before being removed again in 2010. Another version of this logo without the "Broadcast Yourself" slogan was used until 2011.
YouTube began as a venture capital–funded technology startup. Between November 2005 and April 2006, the company raised money from various investors, with Sequoia Capital, $11.5 million, and Artis Capital Management, $8 million, being the large
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