Shalom Life | December 22, 2014

Israel's Face.com Purchased by Facebook for $100 Million

Facial recognition technology company purchase by social media giant

By: David Shear

Published: June 19th, 2012 in Business » Israel

Israel's Face.com Purchased by Facebook for $100 Million

Facebook Inc. announced on Monday that it will be purchasing Israeli facial-recognition technology company Face.com.

Last month’s reports had the sale estimated at tens of millions, but it is now estimated that the transaction will be around $100 million.

Face.com launched in 2009 and has raised nearly $5 million from investors including Russian Web search site Yandex. It currently employees 11 persons which are all expected to join Facebook.

Face.com develops applications that help consumers identify and tag themselves and their friends in photos on Facebook. Their technology has been integrated into Facebook’s service.

Facebook has been looking for any and all technologies involved in the photo sharing and tagging sector to help bolster their photo sharing dominance. Recently, Facebook famously purchased Instagram, a very popular photo-sharing mobile service for $1 billion. U.S. antitrust regulators are currently undertaking an extended review of the Instagram deal, which Facebook expects will be close by the end of the year.

Ambassador Dan Shapiro Urges U.S. Collaboration with Jerusalem College of Technology Ambassador Dan Shapiro Urges U.S. Collaboration with Jerusalem College of Technology TrendingHarvard President Not Sold on BDS Harvard President Not Sold on BDS TrendingStartup Club: Yo Sox Startup Club: Yo Sox Trending
 

Top 50 Hottest Jewish Women of 2014 (30-21)

December 19, 2014 | By Ashley Baylen
Top 50 Hottest Jewish Women of 2014 (30-21)

Join Shalom Life in celebrating the 50 most talented, intelligent, funny, and beautiful Jewish women of the year.

Read More

Analyst Suggests Qatar 'Give' World Cup 2022 to Gaza

December 19, 2014 | By Daniel Koren
Analyst Suggests Qatar 'Give' World Cup 2022 to Gaza

Tom Gross argues that the move would be beneficial for Palestinians in Israel

Read More

Natalie Portman Explains How 'Star Wars' Almost Ruined Her Career

December 19, 2014 | By Sara Torvik
Natalie Portman Explains How 'Star Wars' Almost Ruined Her Career

The 'Black Swan' actress says no one wanted to work with her after 'Star Wars'

Read More

Liberace's Hologram to Go On World Tour, Starting in Las Vegas

December 19, 2014 | By Sara Torvik
Liberace's Hologram to Go On World Tour, Starting in Las Vegas

The deceased performer will be entertaining a whole new generation of fans.

Read More

Adam Levine's Maroon 5 Rock Out at The People Magazine Awards [VIDEO]

December 19, 2014 | By Sara Torvik
Adam Levine's Maroon 5 Rock Out at The People Magazine Awards [VIDEO]

On Thursday evening, Maroon 5 wowed the audience with a live performance of 'Animals'

Read More

Oops! Drake Confused Adam Silver for Donald Sterling

December 19, 2014 | By Sara Torvik
Oops! Drake Confused Adam Silver for Donald Sterling

At the Toronto Raptors Drake night, Drake mixed up some important names.

Read More

Ambassador Dan Shapiro Urges U.S. Collaboration with Jerusalem College of Technology

December 19, 2014 | By ShalomLife Team
Ambassador Dan Shapiro Urges U.S. Collaboration with Jerusalem College of Technology

Shapiro visited the college for a private demonstration of several ground-breaking technologies developed by students

Read More

This British Politician Is Trying to Put an End to Racism & anti-Semitism on Twitter

December 19, 2014 | By Daniel Koren
This British Politician Is Trying to Put an End to Racism & anti-Semitism on Twitter

Luciana Berger, the subject of some 2,500 anti-Semitic tweets earlier this year, wants the platform to ban racist words

Read More

More Headlines