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Facebook acquires video compression start-up QuickFire
MUMBAI: Social networking giant Facebook has acquired video compression start-up QuickFire to help it view high-quality video with low bandwidth.
QuickFire can quickly convert video formats and allow them to be downloaded with less bandwidth and without a loss in video quality.
QuickFire CEO Craig Lee wrote on the company’s website, “Now 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.”
He added that the company will wind down its prior business operations as the team transitions over to Facebook.
Recently, Facebook has been making a push to get its users to upload video directly to its site, instead of linking to videos on other sites like YouTube.
Last year, Facebook changed its service so that videos in its users’ news feeds begin playing automatically.
Facebook’s acquisition of the video technology company comes a day after it said in a blog that it averaged over 1 billion video views every day since June 2014.