Facebook has bought video start-up technology platform Quick Fire Networks for an undisclosed sum. Founded in 2012, QuickFire, helps view high-quality video with low bandwidth.
“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,”
said Facebook spokeswoman Liz Allbright said in a statement.
The news about the acquisition comes just a day after it was announced that Facebook has received more than 1 billion video views every day since June 2014 in the U.S and number of video posts per person are up 75 percent globally. QuickFire has developed a proprietary technology to cut the bandwidth required to consume videos without cutting the quality. Last year, Facebook changed its service so that videos in its users’ news feeds play automatically.
As a result of the acquisition, Quickfire will be winding down business operations and some team members will be joining Facebook. The move will be beneficial for Facebook users in the countries with average bandwith. Earlier this week, Facebook also acquired speech recognition start-up Wit.ai.