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Facebook acquires QuickFire Networks to boost its web-video ambitions

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Facebook has today acquired QuickFire Networks, a start-up which helps in reducing the video file sizes and upload times using a hardware + software platform that dramatically reduces the bandwidth needed to view video online.

The latest acquisition by Facebook has given us yet another indication as to how aggressively, the social networking giant is pursuing its video-service ambitions. As a part of the deal, some of the QuickFire members will be joining Facebook and the company will wind down the business side of its operations.

Craig Y. Lee, CEO at Quick Fire Networks said,

We’re ready to take the next step in our growth. Facebook has more than one billion video views on average every day and we’re thrilled to help deliver high quality video experiences to all the people who consume video on Facebook.

QuickFire may just be the starting of what could be, a series of video-based services’ acquisitions. Facebook made its intentions quite clear, when it signed an exclusive deal with NFL to show small clippings of NFL games on a separate page dedicated to those videos.

It has been aggressive in strategies related to the growth of its web video platform. For example, may reports have repeatedly suggested that Facebook is approaching many popular YouTube channels to upload their content directly on its website, rather than embedding YouTube videos.

Editor-at-large and co-founder at The Tech Portal. He is a tech enthusiast with interests in new-age technology fields like Ai, Machine Learning, AR/VR, Outer Space and related stuff. Drop him a mail anytime, very reachable.

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