Yahoo acquires video streaming startup RayV
Yahoo has acquired online video streaming company RayV with the aim of distributing content to more people, particularly via mobile devices.
RayV, founded in 2005, is focused on efficiently distributing HD-quality video to a global audience, with a focus on mobile.
Terms of the deal were not disclosed. “Yahoo is focused on growing video users and monthly streams, and while we’re only getting started, we’re very focused on this in 2014,” Yahoo said in its announcement of the deal.
RayV’s service will improve Yahoo’s underlying technology infrastructure, and most of RayV’s employees will join Yahoo’s R&D center in Tel Aviv, Israel.
A deal between Yahoo and RayV was in the works for at least a couple months, according to The Wall Street Journal. The acquisition comes as Yahoo CEO Marissa Mayer is focused on giving people more of a reason to visit Yahoo’s site, partly through original online shows.
Yahoo just last week said it would be airing the television show Community on Screen, after it was canceled by NBC earlier this year.