Success Story of YouTube
YouTube is a video sharing platform that lets users post videos that include self-generated music clips, educational videos, television clips, and amateur content, including video blogging. It is also a medium to release official music videos, movie trailers, and even business ads for music companies and corporations. In this article, we discuss the success story of Youtube.
Founders of YouTube
Three early members of PayPal, Chad Hurley, Jawed Karim, and Steve Chen founded YouTube in 2005. However, there are contradictory tales about the reason for starting Youtube and what inspired the founders for the creation of Youtube. Some say they were motivated by the challenge of emailing a video file. Some say they started YouTube after getting inspired by the Hot or Not website and decided to do a video version of an internet dating site.
In February 2005, the YouTube domain was licensed, and the site went live in May. YouTube was a major success as it gained word of mouth recognition. It offered a beta version in May 2005 and obtained Sequoia Capital of $3.5 million in funds. It was officially launched in November 2005.
First YouTube Video Uploaded
On 23 April 2005, the first YouTube video was uploaded. In July 2006, the company announced that over 65,000 videos are uploaded daily, and the multiple videos are watched over 100 million times daily. That much growth has been unprecedented in such a short time. To keep the servers running and increase the bandwidth, they needed more resources to handle the growing number of videos per day. They added new features and it increased their success and growth.
Google Purchased YouTube
Youtube has a market share of over 40% in the American industry. Google purchased YouTube in November 2006 for an overwhelming $1.65 billion. Reaching the market value in two years is truly a symbol of flawless execution that team leaders have accomplished. YouTube has been part of the Google Universe since 2007 and provides for all our needs within its own four walls. Moreover, YouTube launched free live streaming of such content in March 2010, including sporting events and concerts. Its average viewership stood at an impressive 3 billion in May 2011.
Videos Posted on YouTube
Many videos posted on YouTube go viral, which means videos are highly shared and collect a large number of views in a short time. Videos such as ‘Gangnam Style’ and ‘Harlem Shake’ have gone viral in a short period and garnered millions of views around the world. YouTube forbids sexually explicit videos, abuse of animals, hate messages, spam, etc. It also forbids the upload of filmed or shot copyrighted content like TV shows, music videos, or advertising without permission. There have been several complaints against YouTube for hosting copyrighted content. YouTube is also working to remove illegal content to prevent the leakage of pirated material on YouTube to users.
Conclusion
YouTube has had a fairytale success since it hit the top of the internet within 4 years. The company has shown that proper execution is essential to enhance productivity and generate revenue. YouTube has become a single place to connect, read, be entertained, and teach people from any part of the world from the comforts of their homes.
This brings us to the end of our discussion on the success story of Youtube.
