YouTube Hires Yahoo’s Yu as New CFO
YouTube has taken a step in the serious direction of fortifying its management team and monetization efforts with the recruitment of Gideo Yu, Yahoo’s Treasurer. Yu is now the Chief Financial Officer at YouTube.
Analysts are predicting that the move marks what may eventually add up to an IPO or some acquisition or partnership deals by the video hosting community, which serves more than 100 million videos a day.
YouTube, only 19 months old, is hands down the most popular online video upload, sharing and distribution site and enjoys more online video popularity than such rivals as Google Video, MySpace or Yahoo.
Hitwise had released this online video popularity chart in May:
Here’s a rundown of the video search market shares of the top 10 video search and sharing destinations:
1. YouTube 42.94%
2. MySpace Videos 24.22%
3 . Yahoo! Video Search 9.58%
4. MSN Video Search 9.21%
5. Google Video Search 6.48%
6. AOL Video 4.28%
7. iFilm 2.28%
9. Dailymotion.com 0.22%
10. vSocial.com 0.09%
YouTube has also been the target of acquisition and IPO rumors over the past year due to the enormous costs and overhead in video storage vs. the advertising revenue the private company is pulling in. The hiring of Yu from Yahoo of course will only add to such industry speculation.