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Facebook set to acquire Face.com for $100m
Posted By Viva Sarah Press On May 31, 2012 @ 7:00 am In | No Comments
Media sources are reporting that Facebook is set to acquire Israel’s Face.com for a cool $100 million.
TechCrunch has already issued a statement that the purchase is a “done deal.”
The technology blog says Face.com’s face recognition software is a “natural acquisition target for Facebook.”
The company was founded in 2009 and has offices in Tel Aviv and New York.
Face.com has two popular Facebook applications: Photo Finder and Photo Tagger.
Face.com has raised a reported $5.3 million from Russia’s Yandex and Israel’s Rhodium. TechCrunch reports that Facebook’s acquisition of Face.com could come about in one of two ways: either Yandex will sell its stake to Facebook or the purchase will be an outright acquisition.
Face.com made no reference to a potential buyout on its website.
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