Not surprisingly, Hell.com failed to have any bids placed above the $2.3 million reserve set by the seller at a live auction on Friday. Bids were apparently above $500,000 but still a far cry from the $2.3 million minimum. Personally, I would have taken the $500,000, especially considering the site is only getting around 5,000 hits a day with whatever hell-driven community is there (which would translate to significantly less than $500,000 in ad revenue by practically any calculation). But some other names did sell:
Month: October 2006
YouTube Is Now a Verb And an Adjective
The Wall Street Journal (subscription required) explains how YouTube is following in the steps of Google and TiVo: It’s now a verb and an adjective. Politicians are calling this midterm election “the first YouTube election.” They are posting videos to YouTube that show their opponents’ less-than-impressive moments. Never before have we had such an easy way to see politicians using insulting racial terms or falling asleep at hearings. But it gets better…
Google Buys YouTube for $1.65 Billion
Google agreed to buy closely-held YouTube in an all-stock deal worth about $1.65 billion, its largest acquisition to date. The terms state that YouTube will initially retain a significant measure of independence, keeping its current brand, offices, and employees. The transaction is expected to close in the fourth quarter.