Turns out the rumors were true, Google has bought YouTube for $1.65 billion.

In other news, the latest uploaded video to the site shows the YouTube founders and investors running around naked with $100 bills streaming out of the air conditioning system.

In other other news, hundreds of Web 2.0 wannabes will now be knocking at Sequoia Capital's doors looking for a cut of the hundreds of millions of dollars the venture capital firm is about to make.