Facebook acqui-hired interactive video startup Vidpresso, having confirmed the move earlier this week, describing it as the latest step in its efforts to make its video content more engaging. Founded in 2012 with the goal of putting a new spin on online videos and provide an alternative to passive watching, Vidpresso is now joining Facebook primarily due to its talent and technology, whereas the company itself will cease to exist. Any individual or entity interested in collaborating directly with the Vidpresso team moving forward can do so by filling out a Facebook Live inquiry form which can be accessed by referring to the banner below.
The Utah-based startup created a platform that makes live polls, real-time video effects, and live comments accessible to video creators big and small, presenting it as a solution that will usher the online community to a new era of filmmaking with a specific focus on broadcasts. Its strategy is hence in line with what Facebook has been trying to accomplish with Watch, a year-old platform that it's positioning as a rival to the likes of YouTube and Twitch. While the social media giant already proved to be willing to finance exclusive Watch shows, it's reportedly informing content creators that it isn't interested in traditional, "passive" media. Instead, the company is pursuing more two-sided formats that encourage the audience to engage with the creators by making suggestions, providing feedback, and even participating in live broadcasts.
The acquisition of Vidpresso will see its existing enterprise customers such as BuzzFeed, NASDAQ, and Turner Sports continue receiving services, with Facebook reportedly agreeing to do so free of charge for the time being, even though the company apparently has no immediate ambitions in the enterprise video segment. No financial terms of the deal have been disclosed to date, with Vidpresso itself raising under $200,000 from seed capital and angel investors to date. Facebook has yet to detail how it intends to leverage its latest acquisition to provide Watch with a boost that it desperately needs, according to recent reports.