YouTube is a video-sharing website, created by three former PayPal employees in February 2005, on which users can upload, view and share videos. The company is based in San Bruno, California, and uses Adobe Flash Video and HTML5 technology to display a wide variety of user-generated video content, including movie clips, TV clips, and music videos, as well as amateur content such as video blogging, short original videos, and educational videos.
Most of the content on YouTube has been uploaded by individuals, although media corporations including CBS, the BBC, Vevo, Hulu, and other organizations offer some of their material via the site, as part of the YouTube partnership program. Unregistered users can watch videos, while registered users can upload an unlimited number of videos. Videos considered to contain potentially offensive content are available only to registered users at least 18 years old. In November 2006, YouTube, LLC was bought by Google for US$1.65 billion, and operates as a subsidiary of Google.
YouTube was founded by Chad Hurley, Steve Chen, and Jawed Karim, who were all early employees of PayPal. Hurley had studied design at Indiana University of Pennsylvania, while Chen and Karim studied computer science together at the University of Illinois at Urbana-Champaign. According to a story that has often been repeated in the media, Hurley and Chen developed the idea for YouTube during the early months of 2005, after they had experienced difficulty sharing videos that had been shot at a dinner party at Chen’s apartment in San Francisco. Karim did not attend the party and denied that it had occurred, while Chen commented that the idea that YouTube was founded after a dinner party “was probably very strengthened by marketing ideas around creating a story that was very digestible”.
YouTube began as a venture-funded technology startup, primarily from a $11.5 million investment by Sequoia Capital between November 2005 and April 2006. YouTube’s early headquarters were situated above a pizzeria and Japanese restaurant in San Mateo, California. The domain name www.youtube.com was activated on February 14, 2005, and the website was developed over the subsequent months.
