Facebook is becoming stronger by the day and it seems that the giant social media network has further plans of development. Now, Facebook purchased shopping search engine, TheFind. At this point, the terms of the deal signed by the two parties were not disclosed.
However, the question that raises in this context is: why did the giant social network made this purchase. Allegedly, Facebook is interested in making its ads more relevant to customers. The fact that people nowadays use the powerful social networking site for both communication and to get informed is no secret. So, there is no wonder after all that Facebook is interested in making this investment.
“We’re excited to welcome TheFind to Facebook. TheFind’s talented team has built a successful search engine that connects people to products. Together, we believe we can make the Facebook ads experience even more relevant and better for consumers,” a statement from Facebook indicated. TheFind also announced the purchase and revealed that Facebook plans to shutter the service “in the next few weeks”.
“We are now starting our next chapter by combining forces with Facebook to do even more for consumers,” a statement from TheFind indicated. “Facebook’s resources and platform give us the opportunity to scale our expertise in product sourcing to the over 1 billion people that use the platform,” it added.
TheFind was launched back in 2006. The service was always focused on making the shopping experience of all customers easier. In the past nine years, the service alleged to have aimed to bring a shopping experience that is easy, efficient and fun, “searching all the stores on the Web to find just the right products you’re looking to buy.”
As expected, some of the most important members of TheFind will be joining Facebook. Well, it is yet to see what the highly popular social network will present next, following this purchase. However, this is not the first time that Facebook makes such a move. One of the most shocking acquisitions made by the company dates back to 2014, when Facebook acquired Oculus VR for no less than $2 billion. It is yet to discover how much Facebook paid for TheFind.