Yahoo close to buying Israeli video streaming startup RayV

21 May 2014

RayVYahoo Inc is close to buying Israeli startup RayV, in order to beef up its video streaming business, The Wall Street Journal reported today.

The paper did not reveal the financial details of the transaction, but said that the talks are nearly over.

Founded in 2006 by Ofer Shem Tov, Ori Birnbaum, Omer Luzzatti, RayV specialises in developing software for high definition video streaming over the internet.

The eight-year-old start-up has raised more than $40 million from investors, including Accel Partners, Argoquest Holdings, Accrue Sports and Entertainment Ventures, Dragon Ventures and Metamorphic Ventures.

The company has its headquarters in Los Angeles but its research and development unit is based in Tel Aviv.

Yahoo, which had failed to acquire online video web sites Dailymotion and Hulu last year, is keen to expand its video offerings.

Yahoo has also held talks to acquire online video services Fullscreen Inc and News Distribution Network Inc, the report said.