YouTube is a video-sharing website, created by three former PayPal employees in February 2005, on which users can upload, view and share videos.
Hurley and Chen developed the idea for YouTube during the early months of 2005, after they had experienced difficulty sharing videos. YouTube began as a venture-funded technology startup, primarily from a $11.5 million investment by Sequoia Capital between November 2005 and April 2006. 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 14 billion videos viewed in May 2010. YouTube says that roughly 60 hours of new videos are uploaded to the site every minute, and that around three quarters of the material comes from outside the U.S. The site has eight hundred million unique users a month.
YouTube makes it money through advertising. They have teamed up with CBS and therefore, viewers constantly see their videos, which results in large sums of money.
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