Facebook acquires video startup QuickFire
Facebook has acquired QuickFire Networks, a video compression specialist, as the social media giant continues to focus on improving its video delivery.
Based in San Diego, QuickFire is said to be able to quickly convert video formats and allow them to be downloaded with less bandwidth and without a loss in video quality. Its platform of hardware and software – which includes the use of multiple Intel Core i7 processors and graphics processing units – speeds up the encoding of online video.
"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," said Craig Lee, CEO, Quickfire.
Financial details of the deal were not disclosed.