In 2006, Chad Hurley and YouTube's other co-founder Steve Chen were presented with a $1.65 billion buyout offer from Google. In the years since accepting that massive lump of Mountain View stock, Hurley has remained fairly quiet — he stepped down as YouTube's chief executive in 2010 but stuck around in an advisory role. Now he's finally readying his next project for a public debut, and Hurley is unsurprisingly sticking with the medium that first brought him enormous success. Nearing the launch of yet another "video-based" service, he insists the upcoming offering won't be a direct threat to YouTube.

Instead, as reported by Adweek, he told a SXSW crowd it will focus on collaboration by providing "flexibility for people to work together and create content". Acknowledging the massive success of his previous venture, Hurley readily admitted "there’s always going to be a place for YouTube." Unfortunately beyond the vague collaborative focus, he wouldn't divulge much in the way of specifics, only hinting that all will be revealed before long. "I wish [South by Southwest] was a month later because I could unveil the new product," he said. In the meantime, we've embedded a monumental moment in Silicon Valley history: the 2006 clip of two very happy new millionaires announcing Google's acquisition of YouTube.