Facebook Inc. (FB) buys shopping search ecommerce webSite ‘TheFind’

14 Mar 2015 | Author: | No comments yet »

Facebook acquires The Find e-commerce search engine.

San Francisco: 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.“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.

Facebook FB -1.11% has acquired shopping search engine TheFind.com, signaling the social networking giant’s continued aspirations in two of the Internet’s biggest money-makers: search and e-commerce . The deal, announced Friday for an undisclosed amount, follows a series of initiatives by Facebook to get its users to search and shop through its service. 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.

But so far, the company has failed to gain the traction it has in connecting friends and family by letting them share posts about everyday life and photos. 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. With $12.6 billion in annual ad sales last year, the company is unquestionably a dominant player in the industry. “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.

The company’s initial plan to get retailers to sell goods on their Facebook pages fell apart, with several major retailers pulling their stores in 2012. TheFind, founded in 2006, had previously raised $26 million in venture capital from Bain Capital Ventures, Lightspeed Ventures, Redpoint Ventures, and Cambrian Ventures.

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