Market Overview

Facebook Announces Acquisition Of LiveRail

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Facebook (NASDAQ: FB) shares are spiking lower after the company announced the acquisition of LiveRail.

LiveRail is an advertising network that connects video publishers and marketers to fill advertising inventory on video content.

Related: Twitter Shares Trend Higher Amid GoPro IPO

Facebook commented on the transaction, “We’re just getting started with our partnership with LiveRail, but we’re very excited about the future for video publishers and marketers. We believe that LiveRail’s excellent product – known in the industry as a video supply-side platform or SSP – and Facebook’s expertise with relevancy, delivery and measurement will help us make video advertising much better for everyone.”

According to TechCrunch, LiveRail was on track for a $100 million run rate in the fourth quarter of 2013, meaning a purchase price could be in the hundreds of millions or billions of dollars.

Shares of Facebook were last trading at $66.54, down 2.2 percent.

Posted-In: LiveRailM&A News

 

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