Facebook Inc. (NASDAQ:FB) has acquired shopping search engine website ‘TheFind,’ for boosting advertising business. The company on Friday announced that the website, along with mobile apps, will help in improving ads and to display relevant ads based on user’s preferences.
TheFind was acquired for an undisclosed amount and the process will complete in a few weeks. Market analysts indicate that Facebook would utilize the advertisements with less focus on e-commerce. A Facebook spokesperson stated that Facebook aimed to make more consumer friendly. The company will improve its primary objective of connecting people, brands, companies, products and advertisements, he added.
“We are joining Facebook,” wrote the company on its Twitter description.
Launched in 2006, TheFind will shut down and some of the employees will work at Facebook. The Mountain View, California-based website allows users to reach different shopping websites easily. The company’s website and apps were taken down on Friday and thanked users for their loyalty. The website has helped users for about ten years for choosing the best offers from various websites.
The company mentioned that it was starting its next chapter by combining forces with Facebook and improve their expertise in product sourcing to the 1 billion users of the platform. ‘TheFind’ joins the list of acquisitions made by Facebook to improve advertising business. The social-networking site acquired WhatsApp and Instagram for reaching out to more users and is now venturing into the e-commerce market.
For the last nine years, we’ve worked hard to bring you a shopping experience that’s easy, efficient and fun – searching all the stores on the web to find just the right products you’re looking to buy.
We are now starting our next chapter by combining forces with Facebook to do even more for consumers. 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.
Key members of our team are joining the company and will be working hard to integrate our technology to make the ads you see on Facebook every day better and more relevant to you.
Unfortunately, this means we will be taking our search engine offline in the next few weeks.
Thank you for your loyalty and for making this a fun journey for all of us!
– TheFind Team