It has been reported that the Israeli start-up Qlipso has obtained the assets of video-delivery Web site Veoh Networks. The amount the deal was made for has been kept undisclosed. Now millions of users and advertising revenue is within the reach of the two year old content platform.

According to reports, Qlipso's platform permits users to invite friends for group activities like watching sports, movies, video clips and television shows. This can be done while chatting and controlling a personal avatar.

It should be noted that Veoh displays content from Time Warner Inc., Funimation Productions Ltd. and CBS Corp and so on.

Veoh had declared insolvency in February. It had also revealed plans to sell its assets to reimburse creditors.

Qlipso's CEO, Jon Goldman, is of the opinion that this deal with the new company will append a revenue stream in virtual goods. He is hopeful that the move would augment Qlipso personal avatars.

Golman declared in a telephonic interview, "We will not be focused just on cool videos, but on making the experience more social. It will be the sort of thing you do in multiplayer social worlds".