Samsung Electronics has acquired New York based social-video startup Shellby.TV, as revealed in a company blog post. Post the deal closure, the startup will wind up its operations and Samsung will start with its own curated video service. The financial details and other terms of the deal were remain undisclosed.
iamWire Take: Last month, Samsung revealed its intentions to launch an ‘On-demand video service’ app in Q32014, under a project titled, “Glued”. As per the reports, this space is expected to grow at a CAGR of 16.5% and will reach approx. USD 45.25 billion in 2018. With players like You Tube and Vimeo already present, how Samsung will gain its market share, will be worth noticing.