YouTube Founder Chad Hurley Invests In U.S. Formula 1 Racing Team

Yesterday I had an informal meeting with Best Buy executives at the Fuse Capital offices in Palo Alto (Fuse is running a new Best Buy venture fund) to discuss the CrunchPad. Best Buy and Fuze have been big supporters of the project, and we had a good discussion of our plans going forward.

I also ran into YouTube founder Chad Hurley at the Fuze offices, who was meeting with the Best Buy team along with the execs from the new U.S. Formula 1 Racing team USGPE (previously US F1).

Hurley is “the big investor” in USGPE said Best Buy Chief Marketing Officer Barry Judge, and it looks like Best Buy is also looking for ways to get involved in the project. There are also rumors that YouTube will sponsor the car.

USPGE, which was founded by Ken Anderson and Peter Windsor, has 20 employees, is slated to make its Grand Prix debut in 2010. The car is being produced in Charlotte, North Carolina and may be finished by October 2009.

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