YouTube is reportedly in talks with Vevo over a $50 million equity investment in the popular music video service. Per the terms of the would-be deal, YouTube parent Google would own less than 10%
of Vevo, giving the company a valuation of at least $500 million, Bloomberg reports, citing sources. “The investment would be part of a broader contract to keep Vevo’s music videos on
YouTube,” Bloomberg writes.
In other Google news, the search giant has acquired Channel Intelligence for $125 million in cash. “Channel Intelligence tracks online retail sales for a number of categories, ranging from
computing to consumer packaged goods,” reports Business Insider, citing the company’s blog. “We're unfamiliar with Channel Intelligence, but we assume it will be a part of Google's
efforts to ramp up shopping.”
Proving that every photo-sharing app can’t be a success, AOL plans to shut down Hipster.com late next week. Some of the hyper-local services staff are expected to find homes working on other
AOL projects, the company tells TechCrunch. Why did AOL lose faith in Hipster? According a spokesperson, the app just didn’t fit into the company’s “strategic roadmap.”
This week, Google won what Reuters is calling a “landmark” court case in Australia. The country’s High Court ruled that Google had not engaged in misleading behavior with its
sponsored links, and that it was not responsible for messages conveyed by paid advertisers. “The ruling helps Internet providers and search engines argue that they are not publishers, but simply
carriers of information provided by third parties,” Reuters reports.