CondéNet continues to revise its online strategy, this time striking a deal with YouTube to distribute videos.  Under the terms of their agreement, CondéNet will sell ads for placement along with the videos, WSJ reports. No specifics on the finances with YouTube and Google, (NSDQ: GOOG) but Sarah Chubb, president of CondéNet, tells the Journal: “We have the right to sell the advertising. There is a revenue split, as there always is with Google. If we are not able to sell the full inventory, it goes into the Google system.”

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Online ad network: Chubb: “Right now, the idea of a vertical advertising network is very interesting to us. We actually have some activity going on in that area, but it is also the trend du jour. So you are probably going to see a lot of announcements about things like that.”

M&A: “We are also investors as well as acquirers of other businesses. I am looking for growth. If there is a category we can get into by starting something new, like we did with Flip, then we will. If there is a category we can get into by buying or investing in something that is adjacent to a category we are in today, we will consider that seriously also.”

CondéNet numbers: Year to date, revenue at CondéNet is up 81.8 percent over last year; excluding revenue from Wired.com and Flip.com, revenue would be up about 49 percent.