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Thursday, January 8, 2015

Facebook buys video startup QuickFire, (NASDAQ: FB)

Social network operator Facebook Inc said it bought QuickFire Networks, a startup that helps view high-quality video with low bandwidth. QuickFire announced the acquisition on its blog on Thursday. ( and QuickFire did not disclose the terms of the deal.Facebook's acquisition of the video technology company comes a day after it said in a blog it averaged more than 1 billion video views every day since June 2014. ( (Reporting By Sai Sachin R in Bengaluru)

Facebook, Inc., is a social networking Website company. Shares of FB traded higher by 2.66% or $2.025/share to $78.18. In the past year, the shares have traded as low as $51.85 and as high as $82.17. On average, 32290100 shares of FB exchange hands on a given day and today's volume is recorded at 23936388.