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YouTube Founders Buy Delicious

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Last year Yahoo! announced it was going to shut down the popular bookmarking site Delicious but despite firing all the staff said it was going to continue to operate while it searched for a buyer.

Today it announced that YouTube founders Chad Hurley and Steve Chen have purchased Delicious from Yahoo! for an undisclosed amount of money – though rumours last month suggested it was for sale for $1 million. If this is true, Yahoo! would have made a sizeable loss on the site it purchased for $30 million back in 2005. Whatever the price tag for Delicious, it is still only a drop in the ocean for Hurley and Chen, who sold YouTube to Google in 2006 for $1.65 billion. Delicious has been added to the pair’s new company, Avos, though little is know about that company.

 

Chen and Hurley, by way of a blog post, say they plan to provide “a seamless transition for users is incredibly important for both companies. Yahoo! will continue to operate Delicious until approximately July 2011.” From next week, anyone logging into Delicious will be presented with a request for permission to move their information over. However should you fail to move your bookmarks before the transition date you will lose them. Chen and Hurely went on to say they want to "continue to provide the same great service users love and make the site even easier and more fun to save, share and discover the web's 'tastiest' content."

Whether the YouTube duo can manage to turn Delicious into a cash generating service is unclear as for the most part, bookmarking services are not exactly big cash generators. However it will be interesting to see if the popular site goes in a new direction or sticks with the same old formula.

Source: Delicious Blog

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