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Facebook Acquires QuickFire Networks

Category: General News
Posted: 02:07PM
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Facebook has officially acquired QuickFire Networks, a technology startup based out of San Diego that employs proprietary technology to decrease the overall size of video files without degrading video quality. QuickFire Networks firmly believes that the current network infrastructure is incapable of supporting the growing demand for online videos. Facebook for example is currently seeing more than one billion video views on average every day, with that number likely to grow even larger in the near future. The social media giant plans to utilize the technology developed by QuickFire Networks to reduce the overall size of videos posted to Facebook, thereby reducing the amount of bandwidth needed.

QuickFire Networks, which currently employees roughly 20 individuals, will wind down its business operations as some of its key team members join Facebook to deliver high-quality videos to its massive user base.



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