Facebook acquired Fayteq AG, small German startup

Facebook has acquired Fayteq AG. The German-based small startup develops plugin editing applications such as Adobe After Effects that allows users to add or remove objects from existing videos. Facebook is predicted to use Fayteq's resources to further up premium content into social networks. Both of them do not provide details of the acquisition value publicly.

Tinuku Facebook acquired Fayteq AG, small German startup

Facebook has previously confirmed the acquisition. The German-based startup is estimated to have between 11 and 50 employees and a statement on the Fayteq website says "its products and services are no longer available for purchase".

The addition of post-production capabilities to the Facebook timeline suggests Fayteq specializes in adding and deleting objects to video content and will continue strategies to improve animated content on the network.

Earlier this week the launch of a special video tab in the redesign of social networking on Facebook that accommodates original or licensed content as a step that industry analysts perceive as a direct competition for Google's YouTube.

The upgrade means that 2 billion registered account holders in the social network will now be presented with a tab from which events mostly funded by Facebook will be displayed.

Facebook has not publicly discussed plans to monetize this service, but the social network has been using mid-roll video ads since early 2017. Currently, there is no public disclosure of how they will take advantage of Fayteq's capabilities.

Fayteq technology can be used in various video features like Facebook Live or Stories or can be worked on the Camera Effects Platform that includes developer tools to generate AR effects. Facebook has also acquired Source3 which will be used to hunt video pirates and AI startup Ozlo.