YouTube, the popular video sharing website that went live on February 2005, was founded by three entrepreneurs: Chad Hurley, Steve Chen and Jawed Karim. Due to the skyrocketing popularity, Google had set its sight on YouTube and came to an $1.65 billion agreement in October to acquire all the shares of YouTube. The three founders was suddenly rich!
The founders of YouTube can be considered as entrepreneurs because of:
Due to Google’s acquisition of YouTube, the founders had a sudden and large increase of wealth. Also, starting up YouTube can be considered a huge risk, as server costs (equipment) and bandwidth will usually cause web owners to earn only economic profit; or worse, lost profit. Furthermore, before YouTube there was no other easy video-sharing websites, thus creating the huge increase in popularity of YouTube.
By fulfilling those four points, YouTube’s founders can be considered to be entrepreneurs.
Word Count: 162