Chad Hurley and Steve Chen know what people like to share on the Internet. The co-founders of YouTube, and former PayPal employees, made $1.65 billion when they sold the video sharing site to Google in 2006.

Now their latest Internet venture, AVOS Systems Inc., is aimed at creating new ways of letting people manage and monitor whatever they want to share on social media sites. The pair founded the San Mateo company in November 2010, just blocks from where they started YouTube. And the first thing they did was buy the social bookmarking site Delicious.com from Yahoo Inc.