Social networking giant Facebook on 14 March 2015 acquired the shopping search engine TheFind. With the acquisition, Facebook has moved into the e-commerce.
Both Facebook and TheFind cast the acquisition as a way to lift the digital advertising business of Facebook.
The deal aims to improve Facebook ads experience. The Find technology would be integrated into Facebook to make the ads more relevant and better for consumers.
TheFind would be completely integrated into the Facebook. Facebook has been testing a buy button since July 2014 that lets users purchase goods directly. Now, with TheFind, it would be able to add additional shopping tools to its service.
TheFind was co-founded in 2006 by CEO Siva Kumar and CTO Shashikant Khandelwal, both native Indians. TheFind previously raised 26 million US dollar in three investment rounds, but had not received an influx of cash since 2007.
When: 14 March 2015