Facebook, the social media giant has acquired video tech start-up QuickFire Networks, one of the renowned video processing and trans-coding company in a bid to enhance the user’s video experience on the social media site.
QuickFire which is housed in San Diego makes proprietary software technology in order to reduce the bandwidth needed to stream a video without altering or degrading much of the video’s quality. The company claims that it’s innovative and state of the art trans-coding services can compress videos to lower bit rates without sacrificing the video’s quality. It also claims that its algorithms can enhance the video’s quality without increasing the overall file size. This technology could be more than useful to Facebook, with the social media giant now playing host to more than a billion video views per day.
Without disclosing the financial terms of the agreement, Facebook said in a public statement: “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”.
Some of the key member of the 20- employee team shall be joining Facebook’s offices in Menlo Park, California and in Seattle.