YouTube.com hires Gideon Yu from Yahoo!

Online video sharing portal YouTube is finally taking some steps to showcase itself as a serious company.

They have just hired Yahoo Treasurer Gideon Yu as its chief financial officer. YouTube is the most well known portal on the web offering free video sharing service. They rely on advertising for the revenues though analysts believe that they need to take some serious steps if they want to survive for a long time to come.

Analysts also believe that the service would find it hard to get paying customers looking at the range of options available to them in case YouTube becomes a paid service in the near future.

This makes it really tough for them to find a regular and solid source of revenue. YouTube recently made news when they signed on a contract with Warner Brothers Records to promote Paris Hilton’s CD and provide an advertising channel for content related to Ms. Hilton.