Facebook buys shopping search engine TheFind

14 Mar 2015 | Author: | No comments yet »

Facebook Acquires Social Shopping App TheFind.

“Key members of our team are joining the company 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 company said.(Bloomberg) — Facebook Inc. is buying TheFind Inc., a search engine for Web shopping, as the world’s largest social network seeks to make more money from people shopping online.Facebook on Friday said it acquired TheFind, an app that crawls the Internet to offer consumers a personalized shopping experience based on their social profile and the way they shop. The acquisition comes as Facebook has begun testing “buy” buttons that lets advertisers sell products through advertisements on the social network. “TheFind’s talented team has built a successful search engine that connects people to products.

TheFind’s technology will help make Facebook’s ads more oriented around products, said the person, who asked not to be identified because the information isn’t public. TheFind’s product allowed people to get customized recommendations for products while searching through its massive database of products. “We’re excited to welcome TheFind to Facebook. While Facebook has sought to find ways to profit from people finding things to buy as they browse their social networks, it hasn’t always succeeded.

The nine-year-old company gained popularity as a price comparison site, emerging among a crop of mobile shopping apps that threatened to upend the big-box retail store business model by making it easy for consumers to search for the cheapest offers online. 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.” For the last nine years, we’ve worked hard to bring you a shopping experience that’s easy, efficient and fun – searching all the stores on the web to find just the right products you’re looking to buy. Social sites are increasingly looking for ways to make commerce available on their service in an attempt to keep users interested and to dissuade them from leaving the site. 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.

TheFind said it will shut down its service, and some members of its team will be joining Facebook where they will integrate the technology into the social network’s advertising platform, according to a company blog post published Friday. More from WSJ.D: And make sure to visit WSJ.D for all of our news, personal tech coverage, analysis and more, and add our XML feed to your favorite reader.

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