Shalom Life | April 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.

Israel's Mobileye May Power Tesla's Driverless Car Israel's Mobileye May Power Tesla's Driverless Car TrendingIsraeli Wi-Fi Powers Russian Subways Israeli Wi-Fi Powers Russian Subways TrendingWhatsApp Hits 500 Million Active Users WhatsApp Hits 500 Million Active Users Trending
 

Jewish Hall of Fame: Émile Durkheim

April 23, 2014 | By Zak Edwards
Jewish Hall of Fame: Émile Durkheim

The French sociologist, social psychologist and philosopher is considered to be one of the founding fathers of social science

Read More

Anton Yelchin and Zooey Deschanel Slated for ‘The Driftless Area’

April 23, 2014 | By Sarah Bauder
Anton Yelchin and Zooey Deschanel Slated for ‘The Driftless Area’

The film will also star John Hawkes, Ciaran Hinds, and Alia Shawkat.

Read More

Sarah Silverman Apologizes in Advance For Swastika Doodle

April 23, 2014 | By Ashley Baylen
Sarah Silverman Apologizes in Advance For Swastika Doodle

The controversial comedian posted a doodle she drew of a swastika to her Twitter feed.

Read More

Andy Samberg to Return to ‘SNL’ as Host

April 23, 2014 | By Ashley Baylen
Andy Samberg to Return to ‘SNL’ as Host

The 'Saturday Night Live' alum will be hosting on May 17th.

Read More

Drake Lint Rolls His Pants During Raptors Playoff Game [VIDEO]

April 23, 2014 | By Ashley Baylen
Drake Lint Rolls His Pants During Raptors Playoff Game [VIDEO]

The Raptors global brand ambassador wanted to ensure he looked his best while his team beat the Brooklyn Nets

Read More

Drew Barrymore and Will Kopelman Welcome Baby Frankie

April 23, 2014 | By Ashley Baylen
Drew Barrymore and Will Kopelman Welcome Baby Frankie

The actress announced the birth of another happy baby girl on Tuesday.

Read More

Mel Brooks to Star in Autobiographical One-Man Show

April 23, 2014 | By Ashley Baylen
Mel Brooks to Star in Autobiographical One-Man Show

The 87-year old actor/director is planning a solo show in Los Angeles for one-night only.

Read More

Travel Back in Time with Google Street View

April 23, 2014 | By Daniel Koren
Travel Back in Time with Google Street View

Google's latest feature allows you to scroll through past Street view photos, whether in New York, Toronto, or Singapore

Read More

More Headlines