Court Docs Show Big Bucks In YouTube Deal
March 19, 2010 at 4:31 AM (PT)
In the ongoing lawsuit between YOUTUBE co-founder CHAD HURLEY and VIACOM over copyright infringement, court papers have been released showing just how lucrative new media ownership can be. According to legal documents that were unsealed by a MANHATTAN federal judge YESTERDAY (3/18), HURLEY made $334 million in GOOGLE stock from YOUTUBE's $1.65 billion sale to GOOGLE in 2006.
THE NEW YORK POST reports, "Co-founder STEVEN CHEN got $301 million worth of GOOGLE shares. JAWED KARIM, a third co-founder who left the company before it was sold, received $66 million in stock."
Venture capital firms did particularly well on the deal, with SEQUOIA CAPITAL's $9 million investment becoming $516 million, and ARTIS CAPITAL's $3 million turning into $85 million worth of shares.
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