Yahoo buys an online video company, expanding its reach on the mobile platform.
And the never-ending tech acquisitions continue! Yahoo announced yesterday that it acquired online streaming company RayV to aid Marissa Mayer’s company in advancing its online mobile agenda.
According to Yahoo’s Cloud Platforms and Services VP, P.P.S. Narayan, RayV is compatible with Yahoo’s ultimate goal of being the leader in the online mobile experience: “At Yahoo, we’re focused on building a video offering that delivers best in-class quality and content, and can be streamed on-demand and live, on all platforms. The RayV team shares our passion for innovation and commitment to build a video infrastructure to deliver the ultimate video experience to our users.”
Online streaming service RayV was created by founders Omer Luzzatti and Ofer ShemTov in 2005 and RayV became well-known for its HD quality videos on mobile devices. With RayV’s ability to provide excellent on-screen content, Yahoo looks to contend with Netflix in the future. Yahoo’s current online TV lineup includes Saturday Night Live (SNL), BuzzFeed, and Comedy Central. The company intends to air the NBC-cancelled show Community this year, according to a company statement from last week.
Yahoo’s RayV acquisition adds to the list of other acquisitions made by Marissa Mayer’s company in the last year, such as URL shortener company Bread, natural language processing company SkyPhrase, photo-sharing company LookFlow, Dreamworks Animation startup Ptch, live-concert streaming platform Evntlive, business social network startup company Tomfoolery, and smart launcher Aviate.
Yahoo was in the running to acquire online TV and movie streaming company Hulu before Hulu administrators decided to retain the company under its own brand. Yahoo has acquired a total of 30 companies since May 2013 and nearly 40 since Mayer became CEO.