Chinese Social Media Giant Xiaohongshu Eyes Hong Kong IPO at Over $70 Billion Valuation 
Meta Seeks Legal Shield From Child-Harm Lawsuits Amid KOSA Talks 
Hanmi Semicon Shares Surge After $33 Million SpaceX Investment 
Anthropic Officials Meet White House Over AI Model Outage 
SoftBank Shares Drop as OpenAI Losses and Rising Costs Spark Investor Concerns 
Apple Signals Product Price Hikes Amid Rising Memory Chip Costs 
Elon Musk Becomes World's First Trillionaire After SpaceX IPO Surge 
G7 Explores AI Access Deal With U.S. Amid Anthropic Restrictions 
SpaceX IPO Set for Explosive Debut as Valuation Tops $2.2 Trillion 
Meta AI Strategy Faces Challenges as Zuckerberg Admits Mistakes in Internal Memo 
OpenAI's $34B Spending Pushes AI Market Leadership Ahead of IPO 
Trump Administration Delays DeepSeek and CXMT Trade Blacklist Designations Amid U.S.-China Tensions 
Google Gemini Co-Lead Noam Shazeer Leaves for OpenAI Amid AI Talent Race 
ByteDance Eyes Iluvatar, Baidu AI Chips Amid China’s AI Push 
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business 
SpaceX Stock Soars After Historic IPO, Reaches $2.5 Trillion Market Value 
SpaceX IPO Sparks Market Optimism as Shares Surge 19% on Trading Debut 
According to recent reports, it would seem that Facebook is actually considering creating or buying original video content for its video hosting service, which would effectively make the social media site into a TV network. Could Facebook be following the footsteps of Netflix and Amazon?
This development is closely tied to Facebook’s decision to hire Ricky Van Veen. Veen is one of the founders of College Humor, the popular YouTube channel that mostly focuses on making comedy videos for young adults. He joined the ranks of the social media site early in 2016 and, while speaking to Recode, revealed a few details on current discussions going on with regards to the creation of original content.
Facebook’s interest in buying video content started with the advent of Facebook Live, where it paid out millions of dollars for celebrities, internet figures, and media companies to produce content for the live streaming service. It would seem that this recent arrangement will go through similar stages, with the social media giant paying companies to create videos that will then be streamed via Facebook’s own video hosting tool.
In Veen’s own words to Recode, it would seem that prospective partners were already approached and the social media site is looking for a source of funding in order to produce the content that it wants to show. Some of these content will include both scripted and unscripted shows, as well as content related to sports.
“Our goal is to show people what is possible on the platform and learn as we continue to work with video partners around the world,” Veen said.
As to why Facebook would even want to do this given that it is already getting a lot of traction via videos posted by its users, TechCrunch notes that it might have something do with the desire for uniformity. Basically, it wants to host videos in a way that’s easier to appreciate instead of the scattered links by its users. This is the whole point to the Video tab, to begin with.
