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YouTube creators cashed in as did Sequoia Capital…

March 20, 2010 /

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YOUTUBE’S creators walked away with hundreds of millions of dollars after the startup was bought by Google in 2006, according to documents released in a copyright brawl between Viacom and Google.

While former PayPal pals Chad Hurley, Steve Chen and Jawed Karim each scored fortunes in Google stock by selling YouTube to the Internet giant, a venture capital firm that backed the online video-sharing service landed the lion’s share of the wealth.

Sequoia Capital http://www.sequoiacap.com/ got US$516 million (S$722 million) worth of Google stock as a return on approximately US$9 million it invested in YouTube in late 2005 and early 2006, according to court documents made public this week.

Full Story: http://www.straitstimes.com/BreakingNews/TechandScience/Story/STIStory_504387.html

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