Facebook
says it bought shopping search engine TheFind to help boost its
advertising business. Terms of the deal were not disclosed. The
acquisition is expected to close in the next few weeks.
TheFind,
which was founded in 2006, will shut down and some of its key employees
will work at the social media company. TheFind lets users search for
items to buy from websites or in local stores. It is based in Mountain
View, California.
In a statement Friday, Facebook said that TheFind will help make its ads more relevant and better for its users.
Shares of Facebook Inc., based in Menlo Park, California, slipped 5 cents to $78 after the stock market closed.
Earlier
this year, Facebook bought video startup QuickFire that helps view
high-quality video with low bandwidth. Facebook’s acquisition of the
video technology company came a day after it said in a blog it averaged
more than 1 billion video views every day since June 2014. The social
network revealed that video posts per user are up by 75 percent around
the world, and 94 percent in the US.
Posted by : Gizmeon
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