Yahoo has acquired Los Angeles based, RayV Inc. for an undisclosed amount to strengthen its video streaming activities and with plans to expand its operations in Israel. Post this acquisition, RayV will become part of the California company’s research and development team in Tel Aviv. Along with this acquisition, Yahoo has also unveiled a lineup of free streaming concerts by music stars such as Usher, Michael Franti and The Dave Matthews Band.
“The (RayV) team lives and breathes video, and have become industry pioneers. This deal demonstrates our dedication to accelerating our video strategy and boosting our underlying technology infrastructure in the space,” Yahoo said in a Tumblr post.
RayV was launched in 2006 by Ofer Shem Tov, Ori Birnbaum and Omer Luzzatti. Recently, it has raised more than USD 40 million from Accel Partners, Accrue Sports and Entertainment Ventures, Argoquest Holdings LLC, Dragon Ventures and Metamorphic Ventures. In 2012, it has launched its software suite, which includes a content management system, digital rights management and content-distribution network.
The company is basically known as a web platform that allows users to create video playlists and broadcast them online. The firm also provides P2P live broadcasting service with high video quality.
Both Yahoo and RayV have research-and-development centers in Tel Aviv. Now, RayV is expected to join three other Israeli companies purchased by Yahoo: Dapper, FoxyTunes and FareChase.
Yahoo last year failed in acquiring French video site DailyMotion as well as TV Portal HULU. This year, it has acquired News Distribution Network Inc. and online video services Fullscreen Inc.
Also Read: Yahoo acquires group messaging app Blink
Economic times says: News of Yahoo’s latest acquisition came on the same day that it unveiled a lineup of free streaming concerts by music stars such as Usher, Michael Franti and The Dave Matthews Band.
“In today’s on-demand entertainment environment, live experiences are the only ones that we all share together, at the same time,” Yahoo chief marketing officer Kathy Savitt said in a statement.
“Together with Live Nation, we are excited to bring millions of fans together to share these moments through the new Yahoo Live experience.”
“This channel will create a powerful new way for artists to continue to grow their global fan base,” Live Nation chief executive Michael Rapino said.
Yahoo has been shedding its online search engine past in favor of a future as a venue for premier digital content and services, particularly aimed at smartphones and tablet computers.
It has also been investing in original programming. The company has enlisted news, music and television stars for online magazines focused on technology, film and food.
To contact the author, email at firstname.lastname@example.org.