Shalom Life | October 20, 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.

Known for Chemistry, Israeli Nobel Laureate Also Champions Tech Entrepreneurship Known for Chemistry, Israeli Nobel Laureate Also Champions Tech Entrepreneurship TrendingMango Under Fire For Selling 'SS Blouse' Mango Under Fire For Selling 'SS Blouse' TrendingIsraeli Site Beats BuzzFeed For Second Most Shared Links on Facebook Israeli Site Beats BuzzFeed For Second Most Shared Links on Facebook Trending
 

Sleater-Kinney is Back Together After 10 Years

October 20, 2014 | By Ashley Baylen
Sleater-Kinney is Back Together After 10 Years

The band is releasing their first album since 2005 and going on tour.

Read More

The Nosh Pit: Vegan Soups and Stews

October 20, 2014 | By Sara Torvik
The Nosh Pit: Vegan Soups and Stews

What's better than comforting and healthy soups and stews on these damp and rainy days?

Read More

Jerry Seinfeld Honors Jay Leno, Wonders Where His Mark Twain Prize Is

October 20, 2014 | By Sara Torvik
Jerry Seinfeld Honors Jay Leno, Wonders Where His Mark Twain Prize Is

Seinfeld was one of many comedians that celebrated the former 'Tonight Show' host

Read More

'The Real Housewives of New York' Welcomes Back Bethenny Frankel

October 20, 2014 | By Sara Torvik
'The Real Housewives of New York' Welcomes Back Bethenny Frankel

The Skinnygirl founder will be returning for the seventh season of the popular reality series.

Read More

Known for Chemistry, Israeli Nobel Laureate Also Champions Tech Entrepreneurship

October 20, 2014 | By Alina Dain Sharon, JNS.org
Known for Chemistry, Israeli Nobel Laureate Also Champions Tech Entrepreneurship

Dan Shechtman, winner of the 2011 Nobel Prize in Chemistry and a candidate in last June's Israeli presidential election, has long championed technological entrepreneurship and its potential to improve lives around the world

Read More

Israeli Study Says Diet Soda Can Lead to Diabetes and Obesity

October 20, 2014 | By NoCamels Team
Israeli Study Says Diet Soda Can Lead to Diabetes and Obesity

Is this the reason why diet soda drinkers are often overweight?

Read More

Report Claims Nazi War Criminals Received Millions in U.S. Social Security Benefits

October 20, 2014 | By Daniel Koren
Report Claims Nazi War Criminals Received Millions in U.S. Social Security Benefits

Investigation by Associated Press finds that dozens of Nazis collected payments as part of a deal to force them to leave the U.S. voluntarily

Read More

Mango Under Fire For Selling 'SS Blouse'

October 20, 2014 | By Daniel Koren
Mango Under Fire For Selling 'SS Blouse'

The Jewish-founded fashion company has faced increased criticism this week after unveiling a new shirt that boasts a lightning-bolt motif

Read More

More Headlines