Feb. 7 (Bloomberg) — YouTube Inc. founders and investors may reap as much as $1.53 billion selling Google Inc. stock they received when the video-sharing Web site was bought last year.
YouTube investors and executives including co-founders Chad Hurley and Steve Chen registered to sell 3.23 million shares, Mountain View, California-based Google said today in a filing with the U.S. Securities and Exchange Commission.
Google bought San Bruno, California-based YouTube for $1.65 billion in November to tap the market for online video advertising. Hurley and Chen, who founded YouTube in February 2005, may each sell shares worth about $326.2 million as of today’s closing price. Sequoia Capital, YouTube’s largest investor, may sell shares worth $504.4 million.
Shares of Google, owner of the world’s most-used Internet search engine, declined $1.47 to $470.01 at 4 p.m. New York time in Nasdaq Stock Market composite trading. They have gained 2.1 percent this year.