Shalom Life | May 04, 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 Tech Helps Power World's First 3D Printed Car Israeli Tech Helps Power World's First 3D Printed Car TrendingMicrosoft Acquires Israeli Surface 3 Pen Technology Microsoft Acquires Israeli Surface 3 Pen Technology TrendingUnsurprisingly, Everyone in Tel Aviv is Loving the Free WiFi Unsurprisingly, Everyone in Tel Aviv is Loving the Free WiFi Trending
 

WATCH: Ten Times Steve Ballmer's Gone Absolutely Crazy

May 01, 2015 | By Daniel Koren
WATCH: Ten Times Steve Ballmer's Gone Absolutely Crazy

With Game 7 of the Clippers-Spurs series taking place tomorrow, expect the business mogul and Clippers owner to be in full spirits

Read More

Former Staff Member Suing Al-Jazeera for Sexism & Both anti-American, and anti-Semitic, Statements

May 01, 2015 | By Caitlin Marceau
Former Staff Member Suing Al-Jazeera for Sexism & Both anti-American, and anti-Semitic, Statements

The former employee claims his boss would exclude women, and said that "whoever supports Israel should die a fiery death in hell"

Read More

French Muslim Teen Sent Home For Wearing Modest Skirt

May 01, 2015 | By Caitlin Marceau
French Muslim Teen Sent Home For Wearing Modest Skirt

In an attempt to preserve secularism, a Muslim girl was sent home for wearing a skirt deemed too modest and a sign of her faith

Read More

Israeli Tennis Star Shahar Pe'er Says She Still Believes in Herself

May 01, 2015 | By Nadav Zenziper
Israeli Tennis Star Shahar Pe'er Says She Still Believes in Herself

While Israel's leading female tennis player has had a few rough years, she's determined to get back on form

Read More

History Made as Public Transportation Finally Offered in Jerusalem on Shabbat

May 01, 2015 | By Daniel Koren
History Made as Public Transportation Finally Offered in Jerusalem on Shabbat

The 'Shabus' will be available to members of a cooperative, and will be driven by non-Jewish drivers

Read More

Israeli Tech Helps Power World's First 3D Printed Car

May 01, 2015 | By Caitlin Marceau
Israeli Tech Helps Power World's First 3D Printed Car

A project made possible thanks to Autodesk Inc., Massivit, and Local Motors, the 'Strati' will be turning heads at Tel Aviv's EcoMotion show

Read More

This Jewish Offensive Lineman Could Be Your New Favorite NFL Star

May 01, 2015 | By Caitlin Marceau
This Jewish Offensive Lineman Could Be Your New Favorite NFL Star

300 lb., 6-foot-4 Alexander Marpet from Hobart College might just have the heart, and talent, the National Football League is looking for

Read More

Microsoft Acquires Israeli Surface 3 Pen Technology

May 01, 2015 | By Daniel Koren
Microsoft Acquires Israeli Surface 3 Pen Technology

The computer giant has purchased the pen-sensing technology developed by long-time partner N-trig

Read More

More Headlines