In an attempt to get in front of its rivals including Twitter, YouTube, Twitch, and even Snapchat, Facebook has acqui-hired Vidpresso, a video startup that puts a spotlight on aiding broadcasters to stream videos to social media platforms. The website has also gotten the assets, which are linked to the startup's technology.
Although Facebook did not purchase the company itself, it hired the team behind Vidpresso along with its technology.
"Wow. We're really excited to share we're joining Facebook effective today. We will continue to help creators, publishers, and broadcasters create great live experiences, and focus on what we're best known for: Enabling world-class interactive streams on Facebook Live," Videpresso stated on its website regarding the deal, which was announced on Aug. 13.
Now, Vidpresso is currently shifting its current live streaming clients to Facebook. The startup was launched six years ago and its clients include NASDAQ, Cosmopolitan, Buzzfeed, NBC News, and CNBC.
According to Vidpresso, it believes that by joining Facebook, it will be able to provide tools to a wider audience than just its A-list clients before.
Additionally, the company has undergone many changes that include assisting broadcasters to incorporate social elements into usual TV programming. Furthermore, it has also highlighted interactive elements in live streaming on social media, with a big focus on Facebook Live.
Importance Of Video Content
Last week, Vidpresso added a new feature that lets its users play games and video chat simultaneously. The feature indicates that Facebook also believes that people are more likely to prefer video over other popular forms of communication such as messaging.
"Eventually, it'll allow us to put these tools in the hands of creators, so they can focus on their content, and have it look great, without spending lots of time or money to do so," the company added.
The existing customers of the startup will be transitioned to Facebook. By getting the company's team and its assets, it can give its everyday users the same tools that Vidpresso supplies to its clients that are mostly publishers and TV broadcasters. The strategy will help Facebook users create more amazing video content because of the instruments that are provided to them now.
No concrete details are available yet on the financial data of the said deal. However, Vidresso has gathered $120,000 in funding.