Shalom Life | November 28, 2014

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.

The Essential Hanukkah Gift Guide 2014: The Unemployed Philosopher's Guild [GIVEAWAY] The Essential Hanukkah Gift Guide 2014: The Unemployed Philosopher's Guild [GIVEAWAY] TrendingThis British City Council is Banning All Israeli Goods This British City Council is Banning All Israeli Goods TrendingLooking for an Alternative to Uber or Lyft? Try Schlep! [VIDEO] Looking for an Alternative to Uber or Lyft? Try Schlep! [VIDEO] Trending
 

Startup Club: Leap Motion

November 27, 2014 | By Caitlin Marceau
Startup Club: Leap Motion

With a wave of a hand, the company allows you to use your Mac or PC in a whole new way for games, design, and more

Read More

Breakthrough Jew - Mendy Pellin

November 27, 2014 | By Sara Torvik
Breakthrough Jew - Mendy Pellin

Pellin was referred to by The New York Times as "Stephen Colbert with a beard and a black hat."

Read More

Top 20 Things to do in Israel During the Winter

November 27, 2014 | By Abigail Klein Leichman
Top 20 Things to do in Israel During the Winter

Ski in the Hermon, watch the migratory birds, see the holiday lights, dance the lindy hop there's plenty of fun to heat up chilly days.

Read More

Natalie Portman to Star in Steve Jobs Biopic?

November 27, 2014 | By Ashley Baylen
Natalie Portman to Star in Steve Jobs Biopic?

The 'Thor' actress is in negotiations to star in Danny Boyle's upcoming film following the Apple co-founder.

Read More

Sarah Jessica Parker to Launch Shoe Line in Dubai

November 27, 2014 | By Ashley Baylen
Sarah Jessica Parker to Launch Shoe Line in Dubai

The SJP Collection will be available at Harvey Nichols and Bloomingdale's in Dubai.

Read More

Melissa Rivers Posts Thanksgiving Wishes From Mom Joan’s Account

November 27, 2014 | By Ashley Baylen
Melissa Rivers Posts Thanksgiving Wishes From Mom Joan’s Account

Rivers "finally figured out" her mom's Twitter password, takes the opportunity to wish her fans a Happy Thanksgiving.

Read More

Seth Rogen Invites Millions of Twitter Fans to Get High With Him

November 27, 2014 | By Ashley Baylen
Seth Rogen Invites Millions of Twitter Fans to Get High With Him

'The Interview' star wants followers to "get baked" with him in Denver.

Read More

You Can Now Take a Virtual Tour of the Auschwitz-Birkenau Death Camp

November 27, 2014 | By Daniel Koren
You Can Now Take a Virtual Tour of the Auschwitz-Birkenau Death Camp

The Auschwitz museum has unveiled a new virtual tour on its website

Read More

More Headlines