YouTube Founders Are Back, and Have Bought Delicious From Yahoo
YouTube co-founders Chad Hurley and Steve Chen are preparing a triumphant return to tech, launching a new Internet company called AVOS out of their old stomping ground in San Mateo, Calif.
Their first move is not an obvious one: they are buying the neglected remains of the Delicious social bookmarking site from Yahoo for an undisclosed amount.
Hurley and Chen, both immensely rich from their success with YouTube, are no longer running the Google-owned video site’s day-to-day operations. Chen left as CTO circa June 2009, while Hurley officially handed over CEO duties to Salar Kamangar in October 2010.
Here’s the full release and statement from Yahoo:
Today YouTube founders Chad Hurley and Steve Chen announced they have acquired the Delicious technology from Yahoo!. They plan to continue the service that users have come to know and love and make the site even easier and more fun to save, share and discover the web’s “tastiest” content.
Providing a smooth transition for users is important to both companies. There will be a transition period where users can elect to sign up for a new account. Users’ public and private bookmarks will be maintained through the transition period and transferred as they are today when it is complete.
As we have said, part of our product strategy involves shifting our investment with off-strategy products to put better focus on our core strengths and fund new innovation. We believe this is the right move for the service, our users and our shareholders and look forward to watching the Delicious technology develop.
YOUTUBE FOUNDERS ACQUIRE DELICIOUS FROM YAHOO!
Promise Users the Same Great Service And Even Easier & More Fun Ways To Save, Share, and Discover the Web’s “Tastiest” Content.
San Francisco, CA., – April 26, 2011 – Delicious.com, the leading social bookmarking service, has been acquired by the founders of YouTube, Chad Hurley and Steve Chen. As creators of the largest online video platform, they have firsthand experience enabling millions of users to share their experiences with the world. Their vision for Delicious is to continue to provide the same great service users love and to make the site even easier and more fun to save, share, and discover the web’s “tastiest” content. Delicious will become part of AVOS, a new Internet company.
“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!.
The YouTube founders plan to work closely with the community over the next few months to develop innovative features to help solve the problem of information overload. “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 located Delicious in downtown San Mateo, California, blocks away from where they started YouTube. They’re aggressively hiring to build a world-class team to take on the challenge of building the best information discovery service on the web.
Delicious is the leading social bookmarking service for saving, sharing, and discovering web bookmarks. Started in 2003 and acquired by Yahoo! in 2005, Delicious has built a passionate, worldwide community of millions of users. In 2011, Delicious was acquired by the founders of YouTube, Chad Hurley and Steve Chen. Previously, they co-founded YouTube, the world’s largest video site in 2005, which was acquired by Google 18 months later for $1.76B. Delicious is part of AVOS, a new Internet company based in San Mateo, California.