It looks like Facebook wants to further their expertise in advertising by being able to bring more relevant ad content to their users. ?The social network platform recently announced on their blog that they have agreed to acquire LiveRail, an online video advertising firm.
LiveRail is known for increasing and improving ad content in websites and apps of companies like Major League Baseball (MLB), ABC Family, A&E Networks, Garnett, and DailyMotion. The company offers a platform for online video publishers to find the best possible ads. The platform provides marketers access to premium video inventory and the information they need in order to decide where to best place their ads. LiveRail estimates it delivers 7 billion video ads each month. The company was founded in 2007.
Brian Boland, Facebook VP of Ads Product Marketing and Atlas, mentioned in the statement: ?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.?
Meanwhile, Mark Trefgarne, chief executive officer of LiveRail, was very ecstatic to deliver the news.? From what it looks, Facebook is looking to keep all the company?s 170 employees across its four offices.
?When we started talking to the team at Facebook about how we could work together, it quickly became clear that we shared a vision for the future of digital Advertising,? the CEO said in the statement.
No details about the acquisition were mentioned in both statements. But according to another source, the deal will be worth $500 million.
Earlier last?week, microblogging service Twitter also acquired an advertising company, TapCommerce, which focuses on mobile retargeting and re-engagement. The deal was worth $100 million. Before that, they also bought MoPub, another mobile advertising firm for $350 million. With these acquisitions,?it seems that both the social network giants are both investing to keep their customers in place.