On October 9, 2006, it was announced that Google would purchase the company for US$1.65 billion in stock, which was completed on November 13. At that time, it was Google's second-largest acquisition.
The agreement between Google and YouTube came after YouTube presented three agreements with media companies to avoid copyright-infringement lawsuits. YouTube planned to continue operating independently, with its co-founders and 68 employees working within Google.
Google's February 7, 2007, SEC filing revealed the breakdown of profits for YouTube's investors after the sale to Google. In 2010, Chad Hurley's profit was more than $395 million, while Steve Chen's profit was more than $326 million.