DAVOS, Switzerland (AP) — YouTube co-founder Chad Hurley made news at a meeting of some of the globe's most powerful people Saturday, announcing that his wildly successful site will start sharing revenue with its millions of users.
Hurley, who became fantastically rich in November when the company he started was bought by Google for $1.65 billion, said one of the major innovations that the site is working on is a way to allow users to be paid for content. YouTube has become an Internet phenomenon since it began to catch on in late 2005. Some 70 million videos are viewed on the site each day.
"We are getting an audience large enough where we have an opportunity to support creativity, to foster creativity through sharing revenue with our users," Hurley said. "So in the coming months we are going to be opening that up."
Hurley, one of the youngest Internet multimillionaires, gave no details of how much users might receive, or what mechanism would be used.
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