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Google Discloses Payout to YouTube Founders: Hurley $345M & Chen $326M
When Google bought YouTube back in October for $1.65 billion, we didn’t know exactly what this meant for the founders financially. But now we know. Google today filed a registration statement with the SEC, which explains how many Google shares the founders of YouTube received as part of the deal.
First up, Chad Hurley with 694,087 Google shares and another 41,232 shares in a trust. Current value as of today’s stock price: $345 million.
Next, Steve Chen with 625,366 Google shares and another 68,721 in a trust. Current value as of today’s stock price: $326.2 million.
And lastly, Jawed Karim with 137,443 Google shares with a current value of $64.6 million.
YouTube was only 19 months old with 67 employees when the deal happened. Though it was (and still is) seriously popular, it wasn’t profitable. So what did we learn today in class?
Popularity trumps profitability… with millions of dollars, in fact.