Facebook Inc (NASDAQ:FB) has acquired “TheFind” on Friday, which is a product search engine that allows user to search physical products for sale on all websites across the internet. A Wall Street Journal article reported on the news and discussed about the acquisition made by Facebook Inc.
“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,” Facebook Inc. spokeswoman said.
According to Facebook Inc (NASDAQ:FB), its goal with the acquisition is not just about e-commerce, it’s actually more about user-targeting advertisements. TheFind team is acquired to bring in new technology and talent to improve Facebook ads experience that could help company in its ads revenue maximization.
TheFind is a nine years old company that allows people to search hundreds of different websites for specific products at once. The company is well known as a price-comparison website, becoming more visible among various mobile shopping apps by doing efforts to make it easy for users to search for the cheapest offers online. TheFind has made a huge index of products containing over several million items from a half-million stores that allow users to search best deals and compare their prices.
According to a person having knowledge of the deal, Facebook Inc (NASDAQ:FB) is closing the service but some of TheFind’s employees are coming to Facebook ads team, where they and their technology are expected to try to enhance Facebook ads that feature products. This e-commerce acquisition comes as Facebook has started testing “buy” buttons that allows advertisers to sell their products through ads on the social network.
Social media websites are searching for more and more ways to make buying & selling available on their platforms, with efforts to keep people more interested there and to stop them from leaving their websites. Facebook Inc (NASDAQ:FB) has acquired TheFind with the same objective, as the company is looking to make its ads more relevant to people’s interest and by improving its ads experience, with the help of a newly acquired competitive team, it could also expect a significant increase in its ads revenue in future.
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