YouTube is a video sharing website where users can upload, view and share video clips. Three former PayPal employees created YouTube in February 2005. In November 2006, YouTube, LLC was bought by Google Inc. for US$1.65 billion, and is now operated as a subsidiary of Google.

The company is based in San Bruno, California, and uses Adobe Flash Video 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 and short original videos. Most of the content on YouTube has been uploaded by individuals, although media corporations including CBS and the BBC and other organizations offer some of their material via the site.

Unregistered users can watch the videos, while registered users are permitted to upload an unlimited number of videos. Accounts of registered users are called "channels". Videos that are considered to contain potentially offensive content are available only to registered users over the age of 18. The uploading of videos containing defamation, pornography, copyright violations, and material encouraging criminal conduct is prohibited by YouTube's terms of service.

Company history

main: History of YouTube thumb|right|YouTube's current headquarters in San Bruno, California. YouTube was founded by Chad Hurley, Steve Chen and Jawed Karim, who were all early employees of PayPal. Hurley 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, Chad Hurley and Steve 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. Jawed Karim did not attend the party and denied that it had occurred, and Chad Hurley 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 US$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 15, 2005, and the website was developed over the subsequent months. The first YouTube video was entitled Me at the zoo, and shows founder Jawed Karim at San Diego Zoo. The video was uploaded on April 23, 2005, and can still be viewed on the site.

YouTube offered the public a beta test of the site in May 2005, six months before the official launch in November 2005. The site grew rapidly, and in July 2006 the company announced that more than 65,000 new videos were being uploaded every day, and that the site was receiving 100 million video views per day. According to data published by market research company comScore, YouTube is the dominant provider of online video in the United States, with a market share of around 43 percent and more than six billion videos viewed in January 2009. It is estimated that 15 hours of new videos are uploaded to the site every minute, and that in 2007 YouTube consumed as much bandwidth as the entire Internet in 2000. In March 2008, YouTube's bandwidth costs were estimated at approximately US$1 million a day.Yi-Wyn Yen (March 25, 2008). YouTube Looks For the Money Clip. Accessed March 26, 2008. Alexa ranks YouTube as the third most visited website on the Internet, behind Yahoo! and Google.