Facebook Acquires Shopping Search Engine TheFind
Facebook has been striving for excellence in search and e-commerce markets for past couple of years. Persisting with the same mindset, the company has acquired product search engine TheFind.com
The acquisition was confirmed via a post on TheFind’s website. The company said the key members of its team are joining Facebook and “will be working hard to integrate our technology to make the ads you see on Facebook every day better and more relevant to you.”
The financial details of the deal have not been disclosed. Facebook is confident that the acquisition deal will ameliorate its advertising business.
“Together, we believe we can make the Facebook ads experience even more relevant and better for consumers,” Facebook said in a statement about the deal.
TheFind’s specialty is “searching all the stores on the web to find just the right products you’re looking to buy.” Its search engine and app make searching of the products easier by indexing the items on several e-commerce sites.
Important modifications in Facebook’s advertising strategy are being anticipated. To be precise, the users’ confusion will be eradicated as they will be shown ads which they will easily be able to relate to their searching results.
Simply put, the ads and searching tendencies will be homogeneous. Further, the local retailers will be pinpointed, completing users shopping process.
Facebook has previously taken many initiatives to make people use its searching and shopping services. However, the results have not been very satisfactory.
Facebook’s previous endeavors in search services include launch of its Graph search, launched in 2013. It wasn’t a success followed by Gifts fizzled, which couldn’t grab any notable attention before its closure in 2014.
The recent acquisition is a mature platform. It was established in 2006. The company had itself 9000 employees working. Looking at the financial side, the company seems impressive too. TheFind secured funding of $26 million in venture capital from investors including Bain Capital Ventures, Lightspeed Ventures, Redpoint Ventures, and Cambrian Ventures.
Abubaker Zahoor writes on diverse topics with special interest in innovations, tech-ethics, and inter-and intra- organizational business relationships.