In their pursoot to cash in on an IPO in the near future,

Netflix CEO, Reed Hastings

Facebook CEO, Mark Zuckerberg

In their pursoot to cash in on an IPO in the near future, Facebook has friended Netflix. In its chase to go deeper into the video streaming field, Facebook has announced it has brought Netflix CEO Reed Hastings to its board. Netflix will also profit from this partnership by making their movie and TV series services more social.

Netflix could feed Facebook videos, which would give the social network access to a wide range of content and jump-start its video ambitions.

Conversely, Facebook may tie into Netflix to give the video giant more of a social texture. Despite the company’s famous “suggestion engine,” it hasn’t done much to tie into the social matrix that’s such a critical part of the movie viewing experience.