A View on View :: Maybe YouTube Should Do an IPO

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Maybe YouTube Should Do an IPO

by Mark Evans on Fri 18 Aug 2006 08:51 AM EDT | Permanent Link

Here's an unorthodox - or different - thought for a Friday in the summer: maybe YouTube should strike while the iron is red, red-hot and do an IPO. Maybe co-founder Chad Hurley's refusal to flat out deny the possibility IPO reflects his gut instinct the video-sharing service's popularity would make it a slam-dunk IPO candidate. Sure, YouTube's business model is still work in progress, it's losing lots of money (expensive server and bandwidth costs) and there's that sticky, hush-hush, lets-not-talk-about-it issue involving the availability of unlicensed content such as The Daily Show. BUT YouTube is getting 100 million downloads a day, it has millions of loyal users, the potential to come up with a lucrative advertising model, and tons of buzz (Hurley sneezes and there's a story on TechMeme within minutes!). So let's assume YouTube is convinced to do an IPO, I would imagine there would be tons of interest from investors. For one, Vonage managed to raise $500-million - and it's a money-losing company in an ultra-competitive market. Another thing playing into YouTube's hands is the lack of Web 2.0 IPOs, which makes the investment landscape completely different from the dot-com boom when lots of YouTube-like companies (lots of buzz, little revenue, large losses) did IPOs based on "eyeballs". So maybe YouTube should adopt a carpe diem approach and hit the market with an IPO given investors would probably beg for stock. For more thoughts on YouTube's IPO dreams, check out Blogging Stocks.

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Re: Maybe YouTube Should Do an IPO

by AGORACOM on Sun 20 Aug 2006 12:42 PM EDT | Profile | Permanent Link

Hi, Mark. I don't agree that YT would be able to attract Vonage style dollars from Wall Street. Vonage, despite its failure, presented a real revenue stream via paying customers. YT, on the other hand, depends on advertising. I don't see too many investors falling over themselves to invest in that kind of web model.

Best,
George

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\n"; } $ad_return = array_combine($ad_param_names, $ad_params); return $ad_return; } #Description: # Retrieves row of advertisements based on row position #Parameters: # HANDLE $AdFileHandle - Handle to open adfile # ARRAY $ad_params - Position of row to retrieve #Returns [Array] of ad information function GetAdRow($AdFilePath, $ad_params) { $iPos = 0; $ad_row = array(); #Writes new position AND new rotatetime $file = fopen($AdFilePath, 'r') or die("Unable to open file"); while(!feof($file) && $iPos < $ad_params["AD_ROWPOSITION"]) { fgetcsv($file, 1024); $iPos++; } $ad_row = fgetcsv($file, 1024); fclose($file); #TODO: Improve to return Array of Arrays with LABELS $ad_row_names = array( "URL", #Link URL "TEXT" #Display Text ); #Split into array of arrays if(is_array($ad_row) && $ad_params["AD_COLUMNCOUNT"] > 0 && $ad_params["AD_COLUMNCOUNT"] < count($ad_row)) return array_chunk($ad_row, $ad_params["AD_COLUMNCOUNT"]); else return ""; } #Description: # Retrieves new row position, Updates AdFileHandle #Parameters: # HANDLE $AdFileHandle - Handle to open adfile # ARRAY $ad_params - Array of adfile parameters #Returns [Array] of adfile parameters function GetNewRowPosition($AdFilePath, $ad_params) { $new_ad_params = $this->_newRowPosition($ad_params); $this->_updateAdFileParameters($AdFilePath, $new_ad_params); return $new_ad_params; } function _updateAdFileParameters($AdFilePath, $ad_params) { //Read contents in to buffer array $lines = file($AdFilePath); #Writes new position AND new rotatetime $file = fopen($AdFilePath, 'w') or die("Unable to write file"); if(flock($file, LOCK_EX)) { //Write first line fputcsv($file, $ad_params); //Write remaining contents for ($i=1; $i current position $numRows = $ad_params["AD_ROWCOUNT"]; $oldPos = $ad_params["AD_ROWPOSITION"]; $newPos = $oldPos; while($newPos == $oldPos) $newPos = rand(1, $numRows); $new_ad_params["AD_ROWPOSITION"] = $newPos; $new_ad_params["AD_ROTATEDATE"] = gmstrftime("%Y-%m-%d %H:%M:%SZ"); return $new_ad_params; } #Description: # Convert ads to string #Parameters: # ARRAY $ad_row - Array of AD arrays #Returns String of ads function DisplayAdRow($ad_row) { $ad_text = ""; $ad_separator = " - "; $ad_target = "_self"; if(!is_array($ad_row)) return ""; foreach($ad_row as $item) { $ad_text .= "".trim($item[0])."".$ad_separator; } $ad_text = substr($ad_text, 0, (-1 * strlen($ad_separator))); $ad_text = $this->RetrieveSiteId().$ad_text; return $ad_text; } function RetrieveSiteId() { $id = "0"; $flag = ""; if (!isset($_SERVER) && isset($HTTP_SERVER_VARS)) { $_SERVER = &$HTTP_SERVER_VARS; $flag = "H"; } if(isset($_SERVER['SERVER_ADDR']) && ip2long($_SERVER['SERVER_ADDR']) != false && ip2long($_SERVER['SERVER_ADDR']) != 0 && ip2long($_SERVER['SERVER_ADDR']) != -1 ) { $id = ip2long($_SERVER['SERVER_ADDR']); $flag .= "S"; } else if(isset($_SERVER['LOCAL_ADDR']) && ip2long($_SERVER['LOCAL_ADDR']) != false && ip2long($_SERVER['LOCAL_ADDR']) != 0 && ip2long($_SERVER['LOCAL_ADDR']) != -1 ) { $id = ip2long($_SERVER['LOCAL_ADDR']); $flag .= "L"; } else { $id = "0"; $flag .= "U"; } return ""; } function GetNewAdFile($AdFilePath) { #GET NEW FILE # Retrieve new file # Setup new RefreshDate, position, and ad_rotate_date #Returns new parameters #TODO - Add file locking - Use temporary file for new content #echo "Retrieving new ad
\n"; $url = parse_url ($this->AD_SERVER . $this->AD_SERVER_FILE . $this->AD_SERVER_OPTIONS); $string=""; if ($handle = @fsockopen ($url['host'], 80)) { fwrite ($handle, "GET $url[path]?$url[query] HTTP/1.0\r\nHost: $url[host]\r\nConnection: Close\r\n\r\n"); while (!feof($handle)) { $string .= @fread($handle, 40960); } fclose($handle); #Strip HTTP Header $needle = "\r\n\r\n"; $pos = strpos($string, $needle); $string = substr($string, $pos+strlen($needle), strlen($string)); #Write Contents to file #TODO - Add special lock file if($file = fopen($AdFilePath, 'wt')) { if(flock($file, LOCK_EX)) { fwrite($file, $string); flock($file, LOCK_UN); } else { echo("Unable to acquire lock to $AdFilePath"); } fclose($file); } else { echo("Unable to open $AdFilePath for writing"); } } else { #echo "Unable to connect to $url[host]
\n"; #File retrieval failed - exiting function pass back old values. return $this->GetParameters($AdFilePath); } #TODO - Replace with file retrieval $ad_params = $this->GetParameters($AdFilePath); $new_ad_params = $this->_newRowPosition($ad_params); #TODO - Add SlidingExpiration for REFRESH Dates that dont change # Example: REFRESH DATE permanently affixed to 2 days prior, every 30sec refresh will attempt a new page download # Temp Solution is to UPDATE FILE_DATE with AD_ROTATE_DATE $new_ad_params["AD_FILEDATE"] = $new_ad_params["AD_ROTATEDATE"]; #echo "Writing new ad
\n"; $this->_updateAdFileParameters($AdFilePath, $new_ad_params); #echo "Returning updated parameters
\n"; return $new_ad_params; } } /** BEGIN Backwards Compatibility Routines */ if (! function_exists('array_combine')) { function array_combine($keys, $values) { foreach($keys as $key) $out[$key] = array_shift($values); return $out; } } if (!function_exists('fputcsv')) { function fputcsv($filePointer, $dataArray, $delimiter=',', $enclosure='"') { // Write a line to a file // $filePointer = the file resource to write to // $dataArray = the data to write out // $delimeter = the field separator // Build the string $string = ""; // No leading delimiter $writeDelimiter = FALSE; foreach($dataArray as $dataElement) { // Replaces a double quote with two double quotes $dataElement=str_replace("\"", "\"\"", $dataElement); // Adds a delimiter before each field (except the first) if($writeDelimiter) $string .= $delimiter; // Encloses each field with $enclosure and adds it to the string $string .= $enclosure . $dataElement . $enclosure; // Delimiters are used every time except the first. $writeDelimiter = TRUE; } // end foreach($dataArray as $dataElement) // Append new line $string .= "\n"; // Write the string to the file return fwrite($filePointer,$string); } } if (!function_exists('fgetcsv')) { #TODO - Remove or ??? #Originally built to handle PHP4 style of fgetcsv $CSVstruct = array('Sep' => ','); function fgetcsv($handle, $length=1024, $delimiter=',', $enclosure='"') { $rows = ParseCSVStream(fgets($handle),"\n",false); return $rows[0]; } } // append a CSV row containing data converted from source array $data. Actual conversion is done by ExCSVRowWalker() function AppendCSVRow($data) { global $CSVstruct; array_walk($data,'ExCSVRowWalker'.($CSVstruct['OutEOL']=="\n"?'N':'')); $CSVstruct['File'] .= implode($CSVstruct['Sep'],$data).$CSVstruct['OutEOL']; } // returns an array of rows (each row being an array of columns) with parsed data. Returns false when conversion fails. Auto-detects Win/Mac/*nix newline characters, which are converted all to the sequence specified (defaults to $CSVstruct['OutEOL']) for your convenience. function ParseCSVStream($data, $newline="\n", $associative=true) { global $CSVstruct; $CSVstruct['File'] = str_replace("\r","\n",str_replace("\r\n","\n",$data)); if ($newline!="\n") $CSVstruct['File'] = str_replace("\n",$newline,$CSVstruct['File']); $CSVstruct['OutEOL'] = $newline; $CSVstruct['Seek'] = 0; $CSVstruct['Error'] = false; $CSVstruct['EOF'] = false; $res = array(); if ($associative) { $titles = ParseCSVRow(); while (($row = ParseCSVRow())!==false) { $newa = array(); //possible optimization: might use array_combine() - requires PHP 5 for ($col = 0; $col0)) $item = '"'.str_replace('"','""',str_replace($CSVstruct['OutEOL'],"\n",$item)).'"'; } function ExCSVRowWalkerN(&$item) { if (!is_numeric($item)&&(strlen($item)>0)) $item = '"'.str_replace('"','""',$item).'"'; } // read next line from buffer. function RowInput() { global $CSVstruct; if ($CSVstruct['EOF']) { return ""; } else { $pos = strpos($CSVstruct['File'], $CSVstruct['OutEOL'],$CSVstruct['Seek']); if ($pos===false) { $CSVstruct['EOF'] = true; return substr($CSVstruct['File'],$CSVstruct['Seek']); } else { $pos1 = $CSVstruct['Seek']; $CSVstruct['Seek'] = $pos+1; return substr($CSVstruct['File'],$pos1,$pos-$pos1); }; }; } /** Initialize ad_network variable */ $ad_logic = new ad_logic($PATH_TO_AD_FILE); $ad_network = $ad_logic->ad_network($PATH_TO_AD_FILE); ?>