Google share price: Susan Wojcicki appointed new head of YouTube

on Feb 6, 2014
Updated: Jun 1, 2022
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iNVEZZ.com, Thursday, February 6: Google Inc (NASDAQ:GOOG), the owner of the world’s most popular online search engine, has appointed long-time executive Susan Wojcicki as the new chief of its YouTube business. Wojcicki’s appointment was revealed in a statement sent to the media, which confirmed earlier reports of the move.

Wojcicki confirmed the news herself, by tweeting last night about her new role: “Excited to join #YouTube – wonderful team, amazing community & inspiring creators. I look forward to watching a lot more videos during work.”
In yesterday’s after-hours Google shares was up 0.14 percent at $1,144.78.
**Bigger moneymaker**
Wojcicki, who is a member of CEO Larry Page’s inner circle known as the “L” Team, will replace Salar Kamangar at the post, in a move, seen by analysts as an attempt to drive YouTube revenues up. Google does not disclose revenues from the video-sharing portal, but analysts believe that the service generates several billions of dollars in annual revenues from video ads and other promotion.

“Salar and the whole YouTube team have built something amazing,” CEO Page said in a statement yesterday, after the initial report of the change by technology blog The Information. “Like Salar, Susan has a healthy disregard for the impossible and is excited about improving YouTube in ways that people will love.”
It was Wojcicki who, in 2006, pushed for the $1.65-billion acquisition of YouTube, a move seen as a big risk at the time. Today, the service, which is the biggest video website in the world, earns 21 percent of all online video ad revenue in the US, with its revenues jumping 51 percent to $5.6 billion last year, according to eMarketer.

As head of YouTube, Wojcicki’s job will be to improve this performance and allow the service to grow further. Her previous experience makes her perfectly suited for the new role, as she most recently occupied the position of senior vice president of Ads and Commerce for Google. Drawing on her experience she will have to figure out how to grab a bigger slice of the estimated $70 billion US TV advertising market.

Reuters quoted Needham & Co analyst Kerry Rice as observing: “It’s one of the biggest traffic sources on the Internet, so it makes sense to want to try to monetise the best they can.”
Meanwhile, Kamangar will reportedly remain at Google, in an unspecified role involving early-stage ventures.
**As of yesterday buy Google shares at $1,144.78**
**As of yesterday sell Google shares at $1,144.78**
Trade stocks with Hargreaves Lansdown from £5.95 per deal.
Prices can go up and down meaning you can get back less than you invest. This is not advice. Dealing services provided by Hargreaves Lansdown.

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