Facebook Inc. announced in a blog post that it reached an agreement over the acquisition of the start-up LiveRail, which helps in providing businesses with more relevant video advertisements. The deal is the first step of the social network to start serving video promotions on the Web beyond its own standard services.
Facebook Inc. wrote in its blog post, cited by Bloomberg: “We believe that LiveRail, Facebook and the premium publishers it serves have an opportunity to make video ads better and more relevant for the hundreds of millions of people who watch digital video every month. Publishers will benefit as well because more relevant ads will help them make the most out of every opportunity they have to show an ad.”
The terms of the deal were not revealed.
As reported by the Wall Street Journal, the Vice President of Ads Product marketing, Mr. Brian Boland, wrote in the companys blog post: “What LiveRail ultimately offers is a complete advertising solution for video publishers.”
Not only Facebook Inc. but also its major competitors such as Google Inc. and Twitter Inc. have been following the strategy of acquisitions over the last few months. The companies have attempted to add a variety of tools for marketers and respectively, to hold control over a larger part of the online-advertising market apart from the services they provide via their website.
Facebook Inc. was 0.65% down to trade at 66.02 USD per share in New York, but still marking a one-year climb of 169.25%. According to data published by CNN Money, the 39 analysts offering 12-month price forecasts for Facebook Inc. have a median target of 79.00, with a high estimate of 90.00 and a low estimate of 60.00. The median estimate represents a +18.89% increase from the last price of 66.45.
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