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Facebook Inc (NASDAQ: FB) announced acquiring video tech startup, QuickFire Networks, on Thursday. Mike Prospero, Reviews Editor of Laptop Mag and Tom's Guide, was on CNBC Friday to discuss the importance of this acquisition to Facebook and how this can impact Google Inc (NASDAQ: GOOGL) owned YouTube.
How Does This Acquisition Help Facebook?
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"Basically it's going to mean you are going to upload videos even faster to Facebook. So, you get that great shot of some celebrity walking down the streets in New York and you will be able to put it up seconds later," Prospero said.
Related Link:Tough Days Ahead For YouTube
On how this acquisition will hamper business of other video sharing site, Prospero said, "It's going to be a huge threat to YouTube especially. I mean, for YouTube it was a $1 billion business last year and if Facebook can get even a piece of that revenue, I think it's going to make a significant impact."
Prospero thinks that more and more people would be able to showcase their talent to the world by uploading videos on Facebook, saying, "Well, you could see the rise of Facebook's stars, much like you see on YouTube, with more video out there and more ways of getting it out to people and more ways of capitalizing on it. You can see a renewed emphasis of personalities on Facebook."
Does The Acquisition Highlights Importance Of Video To Facebook?
"Especially considering how easy it is to take video with your cell phone and the ease with which you can then view it on your device. It will just make sense," Prospero answered.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.