The transition from offline media like DVDs and Blu-ray discs to online streaming
has been swift, and with it comes increased competition. To ensure it doesn't get left behind, Yahoo
announced in a blog post that it acquired RayV, a video streaming startup based in Israel. RayV's strength is being able to deliver high-quality video feeds to a large number of people.
"Watching mobile and online video has gone from being a novelty to a daily habit for millions of users. Yahoo is focused on growing video users and monthly streams, and while we’re only getting started, we’re very focused on this in 2014. This deal demonstrates our dedication to accelerating our video strategy and boosting our underlying technology infrastructure in the space," PPS. Narayan, VP of Cloud Platforms and Services for Yahoo, stated in a blog post.
While financial terms of the deal have not been disclosed, Narayan said that most of the RayV team will be joining the Yahoo R&D center Tel Aviv. Just as important, Yahoo gains access to RayV's technology and infrastructure, which is said to rival that of YouTube.
Yahoo's strategy moving forward clearly involves a strong push into streaming media. After failed attempts to purchase Hulu and DailyMotion, Yahoo went and partnered with LiveNation back in April, which will allow Yahoo to stream daily concerts when it launches its new music channel later this month.