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December 18, 2013

Facebook acquires sports analytics startup SportStream

SportStream will help Facebook to connect users through their shared interests.

By CBR Staff Writer

Facebook has acquired US-based social media sports analytics startup SportStream for undisclosed sum.

The transaction is expected to support Facebook to analyse the posts regarding sports on its website and help to connect the users through their shared interests.

With the move the social networking firm is expected to give a head on competition to the Twitter in the real-time social content segment.

Facebook global operations and media partnerships vice president Justin Osofsky said in a blogpost through this acquisition, the firm expects to meaningfully improve the ability for all of its partners to access and utilise the insights from the website’s tools.

"We will be able to build a better experience for the people who use Facebook, and for our partners who depend on us for real-time insights," Osofsky added.

"A spirited conversation about sports is happening on Facebook both in real-time and over the water cooler the day after."

"We want to help people connect with their passion around sports, and the world more generally."

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SportStream said that joining Facebook provides an amazing opportunity for the firm to greatly expand on its original vision.

"Facebook sees the value in our technologies and team, and we’re excited to be a part of their continued investment in their platform," the homepage read.

"With this next step for SportStream, we’ll have greater resources to continue to do what we do best."

Following the acquisition, the SportStream expects to offer services to over one billion Facebook users as well as the many valued sports media businesses and professionals, teams, leagues and players.

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