Knowing that their online video service could not compete with YouTube, Google purchased the company to eliminate competition. They received a surprise bonus in the form of copyright infringement lawsuits filed by owners of pirated videos.
Securities Exchange Commission, Google revealed that they were currently involved in a copyright infringement lawsuit. However, they did not disclose the identity of the party, or parties, that filed the lawsuit. Google purchased YouTube last month for a reported $1.65 billion after realizing that their efforts to compete with the online video were in vain.Suggest a Correction
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