YouTube founders Chad Hurley and Steve Chen have take the plunge to buy the ailing Delicious off of Yahoo.

Back in March, Pocket-lint reported how Yahoo was willing to sell the social bookmarking service for as little as $1 million, after forking out $15 million-ish to buy the service back in 2005.

However much the deal actually turns out to be worth, it would only be small change for Hurley and Chen who sold YouTube to Google for $1.7 billion back in 2006.

The pair plan to use the platform in their latest project - Avos.

“We’re excited to work with this fantastic community and take Delicious to the next level,” said Chad Hurley. “We see a tremendous opportunity to simplify the way users save and share content they discover anywhere on the web.”

“We spoke with numerous parties interested in acquiring the site, and chose Chad and Steve based on their passion and unique vision for Delicious,” added John Matheny, SVP of Communications and Communities at Yahoo.

If you want to carry on using Delicious, you'll have to let Yahoo transfer your bookmarks to Avos. This way you'll be able to "enjoy the same look and feel of Delicious today plus future product innovations".

Delicious as you now see it will cease to exist come July 2011, so you will need to transfer before that if you don't want all your links to disappear.