Facebook Aquires E-commerce Search App TheFind
Mashable – Facebook has acquired TheFind, an e-commerce search app.
TheFind announced the deal Friday on its website.
“We are now starting our next chapter by combining forces with Facebook to do even more for consumers. Facebook’s resources and platform give us the opportunity to scale our expertise in product sourcing to the over 1 billion people that use the platform,” the company wrote.
In the post, TheFind said many of its employees would be joining Facebook, and work on improving the relevance of the social network’s advertising. TheFind added that its search engine will go offline “in the next few weeks.”
Facebook did not reveal details of the acquisition, including how much it paid for the company. Founded in 2006, TheFind previously raised $26 million in three investment rounds, but had not received an influx of cash since 2007.
Facebook’s move could also be another step toward introducing more e-commerce on its site. In July 2014, the company began testing a “Buy” button on ads and Page posts. It previously explored payments, including its own online currency called Credits.
Since then, however, Facebook’s e-commerce ambitions have been relatively nascent.
A Facebook spokesperson released the following statement about its acquisition, stressing TheFind’s ability to bolster its advertising products:
“We’re excited to welcome TheFind to Facebook. TheFind’s talented team has built a successful search engine that connects people to products. Together, we believe we can make the Facebook ads experience even more relevant and better for consumers. Our business is about connecting people with the topics, companies, brands, and increasingly products they care about and we look forward to doing that with TheFind on board.”
Image from TheFind
Article by Jason Abbruzzese from Mashable
Thumbnail from Shutterstock.com
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