Updated 21 May, 2013, 3:43 pm IST
Facebook acquires Face.com for about $60 million
| by Roydon Cerejo |
Facebook seems to have suddenly woken up from deep slumber only to discover that mobile photo sharing is the rage and is what all the cool kids are into these days. With a giant like Facebook, a simple remedy to such a problem is to buy out the company, and that’s exactly what they did with Instagram after closing the $1billion deal. That was just phase one, as the social networking site has finalized the acquisition of Israel-based facial recognition company – Face.com. Sources familiar with the matter around the web say that Facebook bought the start-up for around $55 to $60 million and the acquisition was a mix of both cash and stock. There weretalks about this acquisition back in May, when there were rumors about a $100 million deal, but today we find that it’s much lesser (or is it?).
Now part of Facebook
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