Facebook has acquired QuickFire Networks, a company working on bandwidth compression to improve video delivery. QuickFire's technology reduces the bandwidth needed to view video online without degrading video quality. It aims to provide a "premium quality, immediate, bandwidth-friendly video experience to consumers".
Quickfire is expected to help Facebook handle the over 1 billion videos viewed on the social network each day. Quickfire said some of its staff will join Facebook and it will wind down its sales operations after the takeover. No financial details of the takeover were disclosed.
Facebook said separately that the number of video posts per person on the site increased 75 percent globally and 94 percent in the US last year. Globally, the amount of video from people and brands in News Feed has increased 3.6x year-over-year. Since June 2014, Facebook has averaged more than 1 billion video views every day.
