Facebook, the biggest social media platform in the world had recently bought QuickFire Networks Corp., who delivers video streams over the internet, as the social network makes video delivery a top priority. Facebook is second most watched video platform after YouTube in the world.
QuickFire announced the deal on their website and terms were not disclosed. The San Diego based startup will help Facebook show clips quickly without sacrificing as much of the quality, which will benefit Facebook as it boosts video delivery and expands the feature to emerging markets, where connections are slow.
The amount of video on Facebook news feed more than tripled last year, and the company is planning to tweak the website design so marketers can more easily buy video ads and monitor their campaigns. The efforts are central to the Menlo Park, California based company efforts to tap the US online video advertising market, which EMarketer Inc. estimates will reach $7.8 Billion this year, up 30 percent from $6 Billion in 2014.
One of Facebook main challenge in adding video is to the news feed is whether it will degrade the user experience by making users wait for videos to lead. The company already modifies clips so they can be played more easily, and video advertisements in news feed start automatically as users scroll past, without sound. Facebook has more than 1 Billion daily video views. Some of QuickFire will join Facebook, and the company will wind down operations as it becomes part of the larger company.