Shalom Life | October 24, 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.

Startup Club: Hello Doctor Startup Club: Hello Doctor TrendingPÜR Gum Makes Long Lasting Impression on Dragon's Den PÜR Gum Makes Long Lasting Impression on Dragon's Den TrendingOrthodox Jews Delay Flight, Again, For Refusing to Sit Next to Opposite Sex Orthodox Jews Delay Flight, Again, For Refusing to Sit Next to Opposite Sex Trending
 

Jews Around the World to Take Part in the Shabbat Project

October 24, 2014 | By Daniel Koren
Jews Around the World to Take Part in the Shabbat Project

Jews in 460 cities across the world to take part in the inspirational Jewish initiative, including Paula Abdul and Mayim Bialik

Read More

Wix Named 'Hottest Middle Eastern Startup'

October 24, 2014 | By Viva Sarah Press
Wix Named 'Hottest Middle Eastern Startup'

Inc. magazine credits Israeli DIY website creation platform with taking a complicated task and making it enjoyable

Read More

‘Fury’ A Blistering Account of World War II—Sans the Holocaust

October 24, 2014 | By Jason Stack, JNS.org
‘Fury’ A Blistering Account of World War II—Sans the Holocaust

The Brad Pitt and Shia LaBeouf-starring film essentially omits the brunt of the Holocaust from World War II

Read More

Israeli Company Shows that Energy Does in Fact Grow on Trees

October 24, 2014 | By NoCamels Team
Israeli Company Shows that Energy Does in Fact Grow on Trees

The eTree is a solar-powered urban habitat that is constructed from metal pipes and topped with solar panels

Read More

For the First Time Ever, Women of the Wall Hold Torah Reading at the Kotel

October 24, 2014 | By Kobi Nachshoni
For the First Time Ever, Women of the Wall Hold Torah Reading at the Kotel

Western Wall rabbi says "This will never happen again" after the group managed to smuggle a tiny scroll into the women's section of the Western Wall

Read More

Startup Club: Hello Doctor

October 23, 2014 | By Caitlin Marceau
Startup Club: Hello Doctor

The revolutionary new app that allows patients to download their medical records has just received funding from companies that include Facebook and and Google

Read More

Breakthrough Jew - Nic Sheff

October 23, 2014 | By Sara Torvik
Breakthrough Jew - Nic Sheff

Sheff is a best-selling author who uses his experiences as an addict to help others struggling with similar battles.

Read More

Who Was Sarah Michelle Gellar's Favorite On-Screen Kiss With?

October 23, 2014 | By Ashley Ramnarain
Who Was Sarah Michelle Gellar's Favorite On-Screen Kiss With?

Hint: It's not her husband, Freddie Prinze Jr.

Read More

More Headlines