YouTube founders Chad Hurley and Steve Chen have swooped in to buy the popular social bookmarking service Delicious from Yahoo.

Hurley and Chen have located Delicious in San Mateo, Calif., blocks away from where they started YouTube.

As the creative forces behind YouTube, they say they have the chops and experience to help millions of users share their experiences with the world. In particular, they plan on focusing on how to share without overloading on information. They pledged to work with the Delicious community of users and take it to the "next level."

"We see a tremendous opportunity to simplify the way users save and share content they discover anywhere on the Web," Hurley said in a statement.

Speculation about the fate of Delicious has been the talk of the blogs for months. Word leaked that Yahoo planned to unload Delicious in December. The move caused angst, especially among the technorati who are avid users of the service.

Delicious will become part of AVOS, the new Internet venture from Hurley and Chen.

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-- Jessica Guynn