Facebook is constantly looking for new technologies and datasets to make its business more and intelligent and also relevant to people online. Facebook has announced few days ago that it has acquired an online video advertising company called LiveRail, co-founded by 2 Romanian entrepreneurs: Andrei Dunca and Sergiu Biris.
After the deal closes, Facebook and LiveRail are going to integrate data with each other to improve user targeting and serve better ads. Read more on LiveRail blog.
LiveRail serves round 7 billion video ads to visitors each month and has a roster of over 200 customers including CBS, ABC, MLB, Univision, BET and A&E. Needless to say, Facebook took notice and acquired LiveRail to the tune of $400 million to $500 million according to Techcrunch, although the specific terms of the deal were undisclosed.
The news brought a fresh perspective and a big impulse for the Romanian tech industry:
So proud of our team in Romania and worldwide for today's big milestone!
— Andrei Dunca (@andreidunca) July 2, 2014
More news find on Twitter: https://twitter.com/search?q=liverail&src=typd