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Google spends $1 billion to buy the HUGE video site you've never heard of

Google spends $1 billion to buy the HUGE video site you've never heard of
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Google is expanding its online video empire. The Internet search giant has agreed to buy streaming service Twitch for a reported $1 billion. Twitch  lets players live-stream their video games for anyone to watch.

Google already owns YouTube, and this purchase will give it the another one of the Internet's most popular video sites in a new market. YouTube is mostly made up of uploaded videos. With Twitch, gamers can stream their videos live on PC, Xbox 1 and Playstation 4.

You probably haven't heard of Twitch, but the site has a huge following in the gaming world. Amateur and professional gamers are starting to grab a pretty huge audience. Some gaming competitions like Dota 2 are drawing in tons of fans and paying out massive prizes.

Twitch has more than 50 million monthly active users and more than 1.1 million members who broadcast videos each month. Back in June 2011, Twitch had just 3.2 million monthly active users. Twitch also distributes shows from partners including CBS Interactive’s GameSpot, Joystiq, and Destructoid, all gaming-news sites. More than 13 billion minutes of video are watched per month on Twitch.

That's pretty impressive since the site only had 3.2 million monthly users when it was founded just three years ago!

 

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Source: VentureBeat
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