The social network confirmed its “acqui-hire” of Vidpresso’s seven-person team and technology, but not the company itself.
Vidpresso helps add interactive elements to live and online video content from television broadcasters and publishers, and its services will still be available to existing clients including KTXL, Univision, BuzzFeed, Turner Sports, NASDAQ, TED and NBC, with Facebook confirming that it will not charge those clients.
The Vidpresso team will join Facebook’s offices in Menlo Park, Calif.; Los Angeles; and London.
Vidpresso said in a post on its homepage announcing the move, “We will continue to help creators, publishers and broadcasters create great live experiences and focus on what we’re best known for: Enabling world-class interactive streams on Facebook Live. Our customers who currently use the product will continue to be able to do so following our transition to Facebook.”
The company added, “This gives us the best opportunity to accelerate our vision and offer a simple way for creators, publishers and broadcasters to use social media in live video at a high-quality level. We’ve always wanted to build tools for everyone to create interactive live video experiences. By joining Facebook, we’ll be able to offer our tools to a much broader audience than just our A-list publishing partners. Eventually, it’ll allow us to put these tools in the hands of creators so that they can focus on their content, and have it look great, without spending lots of time or money to do so.”
Terms of the transaction were not disclosed.