Israel-based video streaming startup RayV has today announced that they have been acquired by Yahoo.
Confirming the news on their website, the RayV team mentioned that they will be joining Yahoo's Cloud Platforms and Services Team post the acquisition. RayV was founded in 2008 and over the last eight years they have been building a revolutionary video distribution platform that would provide a better video experience for viewers over the internet, while easing the distribution process for content creators. RayV team said,
Our RayV adventure now comes to a pivot, and we couldn't be more excited. We believe Yahoo will be a perfect fit for our people and capabilities, as Video and Mobile offerings are a central part of Yahoo’s vision. Yahoo’s global scale and broad content base, combined with its amazing leadership and appetite for success, creates an ideal environment for our team to thrive and be pushed to the next level.
Omer Luzzatti, Co-Founder and CTO and Ofer Shem-Tov, Co-Founder and Chief Architect are veterans in the audio and multimedia space with key VoIP startups under their belt. They have solid domain expertise and a passion for video that makes them a perfect fit for the Yahoo Video and CDN platform. As a part of deal, most of the team will join the Yahoo R&D center in Tel Aviv.
Yahoo's official blog has just now released the statement confirming the news. The official statement said,
We have acquired RayV, a company with an exciting approach to online video streaming in the rapidly evolving mobile space.
Watching mobile and online video has gone from being a novelty to a daily habit for millions of users.
The company added, "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. At Yahoo, we are 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. RayV has built a compelling technology that enables improved high quality streaming for online and mobile content partners."