Home / Companies / Facebook acquiring video-streaming technology startup QuickFire

San Francisco: Facebook Inc. is buying QuickFire Networks, whose technology delivers video streams over the Internet, as the social network makes video delivery a priority for its users.

QuickFire announced the deal on its website. Facebook has more than 1 billion video views on average each day.

The startup will help Facebook deliver video quickly without sacrificing as much of the video quality—a technology necessary for Facebook as it increases the amount of video in the news feed and expands the feature to emerging markets, where connections are slow.

The amount of video on Facebook’s news feed more than tripled last year, and the social network is planning to tweak the website’s 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% from $6 billion in 2014.

“Video is an essential part of the Facebook experience. We are excited to bring QuickFire Networks on board as we continue delivering a high quality video experience to the over 1.3 billion people who use Facebook," Vanessa Chan, a spokeswoman for Facebook, wrote in an e-mailed statement. Bloomberg

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