So we know that YouTube is being bought by Google, for a whopping $1.65bn, but what did the Google founders have to say about the YouTube acquisition?

Read choice snippets from today’s conference call after the jump…

Google CEO Eric Schmidt

“Chad and Steve remind me, when I first came to Google, of Larry and Sergey.”

“They’ve built an extraordinary business and a social phenomenon that I’ve never seen before.”

“The thing that tipped us over was not the great business success of YouTube or the good working relationships, but in fact the vision.”

“We have come up with 20 or 30 different ways in which the YouTube technology can be assisted by Google technology.”

“It makes perfect sense to continue YouTube as a brand and as a community and as a separate business operation of Google. We think that the brand has value, we think that end users care a lot about it and we want to preserve that.”

Google President – Technology, Sergey Brin

We spend a lot of time working in our two core areas of search and advertising. When you think about search, often times when you want an explanation or a true understanding of something, what better way to see it than an actual video stream. It’s just a fantastic source of information and we think it will be one of the keys to having comprehensive search experience, to have great search over video.”

“Video is a great medium for advertising and from that point of view, we’re really excited about YouTube on that side as well, because I expect that will be a great channel for advertising.”

“It’s hard for me to imagine a better fit with another company, both in terms of the offerings and the video platform that YouTube has built as well as the cultural fit – this really reminds me of Google just a few short years ago.”

And the YouTube founders?

YouTube CEO Chad Hurley

“By joining forces with Google, we’ll be able to sharpen our focus on this vision to create a new media platform for consumers and partners to distribute their media worldwide.”

“Specifically talking about our partnerships with media, you know today announcing Universal, Sony and CBS, you know, combined with previous announcements with Warner Music Group – we’re committed to developing tools to help them identify their content and monetise it in new ways, not only by having a new outlet for distribution for their official catalogue, but the way to harness the power of user-generated content that didn’t exist before.”

“In terms of pre-roll advertising specifically, I think we’re going to be exploring a lot of options.”

“From the beginning we’ve always respected rights-holders’ rights, and we’re going to continue with that mission.”

YouTube CTO Steve Chen

“We’re committed to developing creative new features for our community so they can continue to express themselves in unique and personal ways.”

“Building YouTube this past year has been an extraordinary experience for us all and we believe that this is just the beginning.”

Our thanks to SeekingAlpha for providing the transcript of the conference call. The full version can be found here.