YouTube founders split $650 mn in Google payday

Two of YouTube's founders stand to divide shares of stock now valued at around $650 million, Web search leader Google Inc said in a regulatory filing detailing the payout from its $1.65 billion acquisition on Wednesday.

Chad Hurley, Chief Executive of the online video sharing phenomenon YouTube, received 694,087 of Google common stock worth around $326 million, according to the US Securities and Exchange Commission filing.

Co-founder Steve Chen received Google common stock valued at a similar amount, including 625,366 shares directly owned and another 68,721 shares held in a trust.

Sequoia Capital, the sole venture capital backer of YouTube, stands to receive around $442 million in Google shares based on the $470.01 closing price of the Web search leader on Wednesday.

Source : Expressindia.com