YouTube, the world's largest video sharing website, on Wednesday announced on its official blog that it had surpassed billion users.

"YouTube now has more than a billion unique users every single month," said a statement by the video sharing website. 

 "If YouTube were a country, we'd be the third largest in the world after China and India."

YouTube reached the magical Billion Mark owing to its 'Generation C' who are mostly smartphone users and are continuously 'switching between devices'. Gen C "tunes into YouTube throughout every part of their day," said Gunnard Johnson, Google's advertising director.

These users are not heavy television viewers but are "deeply engaged with online video, watching, creating and uploading videos on YouTube."

"Nearly one out of every two people on the Internet visits YouTube," said the company.

YouTube reached its Billion Hits after the social networking giant-Facebook scored Billion users last October.

YouTube was launched in 2005 by former PayPal employees in California.

In 2006, Google took over the video sharing website for $1.76bn. Since then the website has provided the search engine a great business potential.

According to a Financial Times report, YouTube had generated $1.3 bn from video advertisement alone in 2012.

Referring to the site's popularity amongst top listed 100 brands, YouTube stated in its blog, "Tens of thousands of partners have created channels that have found and built businesses for passionate, engaged audiences. Advertisers have taken notice."

Only last year, Psy's sensational music video 'Gangnam Style' went viral and became the first ever video to have billion viewers in a record time.

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