Facebook Inc is acquiring video advertising company LiveRail in the Internet social network's latest step to make video ads a bigger part of its business. Facebook did not disclose a price for the San Francisco-based company, which was founded in 2007 and has offices in several countries.LiveRail's technology automatically pairs video ads with the videos that appear on many websites, such as the sites for Major League Baseball, ABC and A&E Networks.Facebook would not discuss plans for using the technology on its own website.In March, Facebook began offering 15-second video ads from a limited number of companies on its website. The company has moved cautiously in introducing the video ads on its social network to prevent a backlash from users who might find the ads annoying.
Facebook, Inc. (Facebook) is engaged in building products to create utility for users, developers, and advertisers. Shares of FB fell by 2.41% or $-1.64/share to $66.42. In the past year, the shares have traded as low as $24.15 and as high as $72.59. On average, 60967200 shares of FB exchange hands on a given day and today's volume is recorded at 26345872.
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