YouTube appoints former Yahoo! boss as CFO
YouTube poaches senior Yahoo! employee to head up finance department
Popular free video-hosting website YouTube has poached a senior Yahoo!
employee for the position of chief financial officer.
Gideon Yu has moved working on Yahoo!’s corporate finance, global banking
and treasury operations (as well as being the company’s investment committee
chairman) to head up the financial services division at YouTube.
According to the Wall Street Journal, his appointment to the San
Mateo-based website, which allows users to upload view and share video clips for
free, comes in the wake of the site’s moves to monetise its huge volumes of
YouTube was launched only 18 months ago, but already has users watching more
than 100 million videos a day.
The site has also begun to offer companies advertising opportunities whereby
established artists can upload content and invite fans to subscribe to their
websites. Paris Hilton, of Warner Bros, signed up for this last month.