Shalom Life | January 31, 2015

Facebook to Acquire Israel’s Face.com for ‘Tens of Millions’

This will be the social network's second acquisition from Israel and first acquisition since it went public.

By: David Shear

Published: May 28th, 2012 in Business » World

Facebook to Acquire Israel’s Face.com for ‘Tens of Millions’

Israel’s Face.com, the facial recognition and tagging tool, is about to be acquired by the social network giant, Facebook, according to Calcalist.

There are already two apps on Facebook that are powered by Face.com, Photo Tagger and Photo Finder.

Facebook and Face.com has been through this dance in the past, with this being the forth time Facebook has tried to acquire them, but unlike the previous three times, it appears that the companies have now agreed on a fair valuation.

Face.com was established in 2007 and has raised $5.3 in funding till today. They currently have 20 employees in Tel Aviv and Silicon Valley. Once completed, it is expected that the founders, Gil Hirsch, Yaniv Taigman and Moti Sniberg, will move permanently to Silicon Valley to work at the Facebook headquarters in Palo Alto.

While the acquisition will be for a reported “tens of millions of dollars”, a miniscule price compared to Facebook’s recent acquisition of Instagram for $1 billion, it could ultimately become a strong asset, especially when integrated into Instagram and Facebook, making photo tagging and finding much easier on both the mobile and desktop services, and will continue to cement Facebook’s status as a leader in the online photo sharing and publishing market.

This will be Facebook's second Israeli acquisition after having acquired Snaptu for $70 million in March 2011.

Israeli Startups Collectively Raised Over $900 Million Last Week Israeli Startups Collectively Raised Over $900 Million Last Week TrendingPostcard from Einstein's Sole Trip to Israel Sells At Auction Postcard from Einstein's Sole Trip to Israel Sells At Auction TrendingIsraelis Develop 3D Metal Printer Israelis Develop 3D Metal Printer Trending
 

Israeli Startups Collectively Raised Over $900 Million Last Week

January 30, 2015 | By Viva Sarah Press
Israeli Startups Collectively Raised Over $900 Million Last Week

Various startups in Israel raised $910 million through acquisitions and funding rounds in a seven-day period

Read More

Woody Allen’s Joaquin Phoenix-Starrer is Called ‘Irrational Man’

January 30, 2015 | By Ashley Baylen
Woody Allen’s Joaquin Phoenix-Starrer is Called ‘Irrational Man’

Sony Pictures Classics have announced the name of Allen's upcoming film.

Read More

Steven Spielberg’s Daughter, Sasha, to Star in Snapchat Web Series

January 30, 2015 | By Ashley Baylen
Steven Spielberg’s Daughter, Sasha, to Star in Snapchat Web Series

Spielberg will co-star with John Goldwyn's daughter, Emily.

Read More

Roseanne Barr on Bill Cosby:” It Surprises Nobody”

January 30, 2015 | By Ashley Baylen
Roseanne Barr on Bill Cosby:” It Surprises Nobody”

The comedian believes Cosby should apologize.

Read More

Remembering Myra Kraft on Super Bowl Sunday

January 30, 2015 | By Jason Stverak, JNS.org
Remembering Myra Kraft on Super Bowl Sunday

What will be missing for the second time in recent New England Patriots' Super Bowl memory this Sunday is Myra Kraft sitting with her husband, owner Robert Kraft

Read More

Wounded Syrians Treated in Israel: Eliminate Hezbollah

January 30, 2015 | By Hassan Shaalan
Wounded Syrians Treated in Israel: Eliminate Hezbollah

"We were taught that Israel is the enemy of Syria and all Arab countries. Now that I stayed here, I believe the opposite is true; Israel is better than other Arab countries, which don't admit wounded people," says one injured Syrian

Read More

Jewish Hall Of Fame: Kenny Bernstein

January 30, 2015 | By Caitlin Marceau
Jewish Hall Of Fame: Kenny Bernstein

The famous "King of Speed" is known as one of the most important figures in NASCAR history

Read More

Postcard from Einstein's Sole Trip to Israel Sells At Auction

January 30, 2015 | By Daniel Koren
Postcard from Einstein's Sole Trip to Israel Sells At Auction

Almost a century after the physicist's trip to the Holy Land, postcard sells for $56,000

Read More

More Headlines