In a bid to outdo Google’s YouTube, Facebook said yesterday it had bought San Diego company QuickFire.QuickFire is a private company so financial details of the deal are unavailable.
The company makes technology that reduces the bandwidth to look at films online without compromising on quality.
Mark Zuckerberg’s Facebook said in a prepared statement that video was an “essential part” of Facebook which currently has 1.3 billion people online which use it.
The 20 strong team will move into Facebook’s HQ in Menlo Park, California.
According to Facebook itself, more people now upload videos to the social networking site. Facebook is looking for advertising dollars – YouTube turns in a pretty penny for its owner Google by leveraging video ads as lead ins to music and videos.
