The social networking mogul Facebook took over the video startup QuickFire. The acquisition was officially announced on the QuickFire website last Thursday. In case you missed it, here are the details and what we know so far.
What is QuickFire?
In the words Craig Y. Lee, QuickFire CEO, 'QuickFire Networks was founded on the premise that the current network infrastructure is not sufficient to support the massive consumption of video that's happening online without compromising on video quality. QuickFire Networks solves this capacity problem via proprietary technology that dramatically reduces the bandwidth needed to view video online without degrading video quality.'
The founder of the San Diego based company has said to be 'thrilled to help deliver high quality video experiences to all the people who consume video on Facebook'.