Yahoo acquires Israel based video streaming startup RayV for undisclosed amount
Yahoo has acquired high-quality video streaming startup RayV for an undisclosed amount. The acquisition will improve the position of Yahoo in terms of video content streaming for mobile and desktop users.
Israel based RayV was founded in 2005 by Omer Luzzatti and Ofer Shem-Tov. The company has focused on providing HD video to smartphone and mobile device users. In an official announcement, Yahoo confirmed the deal but has not disclosed the terms and amount of the deal.
Yahoo aims to use the technology from RayV to improve its video content delivery to consumers. Yahoo has been trying hard to keep visitors coming back to its website. The online major has added unique content and video clips on its network to improve the traffic on the network. Yahoo also announced last week that the company will stream TV show Community on Screen.
Yahoo offers original news and also includes content from Comedy Central and Saturday Night Live shows. Yahoo will also begin live concerts everyday on Live Nation Channel on Yahoo Screen, starting July 15.
The official blog announced, “We’re thrilled to welcome the RayV team, most of whom will join the Yahoo R&D center in Tel Aviv.”
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