Yahoo Acquires Israeli Video Startup RayV
Yahoo has officially announced its acquisition of RayV, a mobile and online video streaming startup based in Israel.
Per the deal, Yahoo will welcome the company’s founders, Omer Luzzatti and Ofer Shem-Tov, at its center in Tel Aviv, along with several other RayV employees. Financial terms of the deal were not disclosed.
Started in 2005, RayV has developed a software platform for high-definition web and mobile streaming, and offers a suite of content distribution and management services. These capabilities will be folded into Yahoo, which wants to build out its online and mobile video offering.
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,” said Yahoo’s VP of cloud platforms and services P.P.S. Narayan in a blog post. “This deal demonstrates our dedication to accelerating our video strategy and boosting our underlying technology infrastructure in the space.”
To date, RayV has raised $16 million from investors like Magma Venture Partners, Accel Partners, and Ron Zuckerman.
The deal comes not long after Yahoo decided to save “Community” by giving the cult hit a sixth season, which will debut on Yahoo Screen later this fall.Tags: Community, RayV, video startup, Yahoo!