Facebook has acquired facial confession technology company Face.com for one undisclosed amount of money. Such a deal was rumored to be in the works last month toward around $100 million, making Face.com the elementary post-IPO acquisition by the familiar networking giant.
Based in Tel Aviv, Israel, Face.com was created in 2007 and specializes in facial recognition using photos. The company’s KLIK app on this account that smartphones allows users to automatically tag their friends in photos uploaded to Facebook. Third-gathering tracking software AppData reports that KLIK has 40,000 smart monthly Facebook users.
Face.com claims to exist serious when it comes to user seclusion as they require customers to allowance information before they can use the software to confess knowledge of faces. Furthermore, only contacts that are steady a person’s friends fillet can be recognized and tagged.
“We friendship building products, and like our friends at Facebook, we consider that mobile is a critical work of people’s lives similar to they both create and consume easy in mind, and share content with their festive graph,” said Face.com CEO Gil Hirsch. “By in operation with Facebook directly, and joining their team, we’ll receive more opportunities to build amazing products that decision be employed by consumers — that’s altogether we’ve ever wanted to carry into effect.”
Since Face.com already works closely through Facebook, some feel that the get by payment was more of a staff acquisition than anything else. What still remains unclear is how this will affect Yandex, the Moscow-based sift engine that purchased an 18.4 percent part of Face.com for $4.3 the public in late 2010. They weren’t mentioned in the blog seat on Face.com regarding the buyout.
Stock in the familiar networking company is up $1.54 similar to of writing and nearly $3 inasmuch as opening trades on Friday. The deal is tranquil pending but is expected to clog in the coming weeks.