Facebook continues its buying spree with another multi-million dollar purchase. TechCrunch is reporting Facebook is ponying up between $400-500 million for LiveRail, an advertising company, which focuses on video ads that appear on the web and mobile devices. The social network announced the acquisition on its website yesterday.
“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.” according to the announcement on Facebook. TechCrunch suggests the purchase “… could help Facebook own a bigger chunk of video advertising, the fasting growing Internet ad medium.”
LiveRail started back in 2007 and is a relatively small company with less than 200 on staff. However, its client list includes some heavyweight players in media, entertainment, and business, among them Major League Baseball, ABC Family, BET, PBS, and Condé Nast publishing.