updated 04:44 pm EDT, Sun July 13, 2014
Israeli startup to be a part of Yahoo's cloud team, join research center in Tel Aviv
Yahoo announced last week that it is acquiring the Israel-based video streaming startup RayV for an undisclosed sum. The company will help Yahoo build on its video offerings, giving the company the technology it needs as it looks forward to video content for the future, says the search engine. The deal first made its way across the tech industry as a rumor back in May.
The acquisition brings the RayV team aboard Yahoo's Cloud Platform and Services division. The technology behind RayV is a "full end-to-end solution that enables improved high quality streaming for our online and mobile video content partners," according to its website. Most of the team will work out of the Yahoo Research and Development center in Tel Aviv. RayV launched in 2005, with a headquarters in Los Angeles, by Ofer Shem-Tov, Omer Luzzatti and Ori Birnbaum.
"Our RayV adventure now comes to a pivot, and we couldn't be more excited," said the RayV team. "We believe Yahoo will be a perfect fit for our people and capabilities, as video and mobile offerings are a central part of Yahoo's vision. Yahoo's global scale and broad content base, combined with its amazing leadership and appetite for success, creates an ideal environment for our team to thrive and be pushed to the next level."
It's unknown at this time if RayV will continue to operate independently, but with most acquisitions involving Yahoo, the acquired company is dissolved, along with its services to the public. Since Marissa Mayer took over the CEO position, many of the company's pickups were more about acquiring the technology and the talent behind a technology instead of the business. Most of RayV's website has been inaccessible since the announcement was made.
"At Yahoo, we are focused on building a video offering that delivers best-in-class quality and content, and can be streamed on-demand and live, on all platforms," said Yahoo in a statement. "The RayV team shares our passion for innovation and commitment to build a video infrastructure to deliver the ultimate video experience to our users. RayV has built a compelling technology that enables improved high quality streaming for online and mobile content partners."
A shift in values has caused video to be one of the four core areas of business for Yahoo. Recently, Yahoo saved the cult show Community from cancellation after it ended its five-season run on NBC. The show will come to Yahoo Screen for a 13-episode season, that is being released weekly, this fall.
While Community is a high profile grab for Yahoo, it isn't the only project being produced for the company's streaming video space. Creator of Freaks and Geeks and director of Bridesmaids Paul Fieg is producing a space adventure show for Yahoo called Other Space. Executive producer of Smallville and One Tree Hill Mike Tollin is also bringing the basketball show Sin City Saints to Yahoo Screen.