Facebook has acquired social media video developer Vidpresso which helps broadcasters and businesses deploy video on social media.
The acquisition is aimed at enhancing interactive elements of Facebook Live.
Vidpresso already works with the likes of Buzzfeed, Turner Sports, Nasdaq and TED who use its Vidpresso:LIVE platform to add real-time chats, polling and relevant data from Facebook, Twitter, and other social media networks during live broadcasts.
CBS was among the first broadcasters to work with Vidpresso in order to display social media posts during the 2013 and 2014 Macy's Thanksgiving Day Parades.
According to TechCrunch, Facebook has not bought Vidpresso outright, but has acquired the company's IP and its staff will be joining Facebook at its offices in London and California.
“We will continue to help creators, publishers, and broadcasters create great live experiences, and focus on what we’re best known for: Enabling world-class interactive streams on Facebook Live,” Vidpresso said in a blog post. “Our customers who currently use the product will continue to be able to do so following our transition to Facebook.”
The company added that joining Facebook will give them “the best opportunity to accelerate our vision and offer a simple way for creators, publishers, and broadcasters to use social media in live video at a high quality level. We've always wanted to build tools for everyone to create interactive live video experiences.
“By joining Facebook we’ll be able to offer our tools to a much broader audience than just our A-list publishing partners,” they added. “Eventually, it’ll allow us to put these tools in the hands of creators, so they can focus on their content, and have it look great, without spending lots of time or money to do so.”