Millennium Post

Facebook acquires TheFind to foray into e-commerce

Social networking giant Facebook embraced e-commerce after it acquired shopping search engine ‘TheFind’, signalling its aspirations in two of the Internet’s biggest money-makers: search and e-commerce.

Both Facebook and TheFind cast the acquisition as a way to lift the digital advertising business of Facebook, which with $12.6 billion in annual ad sales last year, 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. TheFind echoed those comments, saying its technology would be integrated into Facebook “to make the ads you see on Facebook every day better and more relevant to you.”

In its webpost, 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 has been testing a “buy” button since July 2014 that lets users purchase goods directly.

PTI

PTI

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