Sport data firm bought by Facebook

<p>Facebook has confirmed the purchase of sport data company Sportstream.</p>

Facebook has completed the purchase of sport data company SportStream, although neither firm has revealed the details of the deal.

Justin Osofsky, vice-president of media partnerships and global operations at Facebook, wrote in a blog post that the acquisition of the data firm will allow Facebook to "meaningfully improve the ability for all of our partners to access and utilise the insights from Facebook's tools".

Facebook is placing a major focus on data at the present time, so that it is better able to assess what its users are interested in and tailor their advertisements to suit their needs.

The social networking site revealed SportStream will enable users to aggregate, filter and display "real-time" data and analysts have suggested the move could be seen as a way for Facebook to compete with rival site Twitter on live content.

"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," said Mr Osofsky.

The idea is for media partners of Facebook to be able to find posts about sport that are placed on its website and then go on to use them in their content.

The future of Facebook

Facebook has used tactics such as hashtags, embedded posts and trending topics in recent months in a bid to improve the live content that is posted on the social networking site.

Following its initial public offering earlier in the year, the share price of Facebook has been on an up and down ride, falling by a lot initially before rising strongly in recent months. In after-hours trading today (December 18th), stocks in Facebook are 0.07 per cent higher and are close to a new record high for the company.

"A spirited conversation about sports is happening on Facebook both in real-time and over the water cooler the day after," said Mr Osofsky, adding: "We want to help people connect with their passion around sports, and the world more generally."

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