US F1 lands YouTube co-founder as primary investor

[August 20, 2009]  VALENCIA, Spain (AP) -- The new US F1 Formula One team has landed YouTube co-founder Chad Hurley as its primary investor for its 2010 debut racing campaign.

Hurley is chief executive of YouTube, the video-sharing Web site that has become a global phenomenon worth $1.65 billion.

Hurley said that he would bring corporate strategy and media planning experience to the team, with video expected to be "a big part of what we do at US F1."

Charlotte-based US F1 is one of three new teams added to next year's championship to push the starting grid from 20 cars to 26.

[Associated Press]

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