Monday, May 2, 2011

YouTube Founders Chad Hurley and Steve Chen acquire Delicious

From FinallyFast
Sunnyvale, California-based social bookmarking web site has been acquired by Chad Hurley and Steve Chen, the original founders of video sharing site YouTube. Delicious will become part of AVOS, a new Internet company based in San Mateo, California.
“We’re excited to work with this fantastic community and take Delicious to the next level,” said Chad Hurley, CEO of AVOS. “We see a tremendous opportunity to simplify the way users save and share content they discover anywhere on the web.”
“We spoke with numerous parties interested in acquiring the site, and chose Chad and Steve based on their passion and unique vision for Delicious,” said John Matheny, SVP of Communications and Communities at Yahoo!. Yahoo acquired Delicious on December 9, 2005. No formal acquisition price was disclosed at the time, though it has been speculated at $10 to $15 million dollars. Delicious’ early seed round investors included Marc Andreessen, Tim O’Reilly, Esther Dyson, Josh Kopelman, Bob Young, Seth Goldstein and Howard Morgan. The bookmarking service recently appeared on a leaked Yahoo roadmap, alongside seven others including AllTheWeb and Buzz, as products that Yahoo was going to shut down.
The two YouTube founders plan to work closely with their community of users over the next few months to develop innovative features to help solve what they see as the problem of information overload on the Internet. “We see this problem not just in the world of video, but also cutting across every information-intensive media type,” said Chen.
Going back to their roots, Hurley and Chen have relocated Delicious in downtown San Mateo, California, just a few blocks away from where they launched YouTube in December 2005 after receiving funding from Sequoia Capital. Hurley and Chen then proceeded to become the first members of the YouTube management team, serving as Chief Executive Officer and Chief Technology Officer respectively. One year later Hurley and Chen sold YouTube to Internet search giant Google for $1.76 Billion dollars.
Hurley and Chen say they’re now aggressively hiring to build a world-class team to take on the challenge of building the best information discovery service on the web, and in their press release Hurley and Chen promise Users “the Same Great Service And Even Easier & More Fun Ways To Save, Share, and Discover the Web’s Tastiest Content.”
Currently the primary use of Delicious is to store your bookmarks online, which allows you to access the same bookmarks from any computer and add bookmarks from anywhere. Delicious allows users to organize and remember bookmarks via tags, which they believe is a much more flexible system than folders. Users can also use Delicious to view friends and other people bookmarks, and share links with them in return, as well as browse and search Delicious to find new bookmarks that other users have saved.

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