Facebook, one of the world’s largest social-networking giant has recently acquired Face.com there by adding a technology that enables facial recognition in photos but the terms and conditions weren’t disclosed. Face.com helps users to tag photos and find images online by distinguishing facial features on social networks and photo sharing sites. Menlo Park, California- based Facebook already uses some of Face.com’s applications. The startup announced the purchase yesterday in a blog post.
Ashley Zandy, a Facebook spokeswoman, in an e-mailed statement said “People who use Facebook enjoy sharing photos and memories with their friends, and Face.com’s technology has helped to provide the best photo experience. This transaction simply brings a world-class team and a longtime technology vendor in house.”
Facebook, which first sold shares to the public a month ago, has been making acquisitions to bring on talented developers, add features to the site and bolster the company’s mobile offerings. Since the beginning of April, Facebook has agreed to purchase photo-sharing site Instagram, location-based application Glancee and social-gifting company Karma.
Face.com, based in San Francisco and Tel Aviv, is backed by Yandex NV, Russia’s most-used search engine, and investing firm Rhodium.
Facebook rose 6.5 percent to $31.97 at 1:35 p.m. in New York, and is headed for the biggest gain since its debut on May 18. The stock is still 16 percent lower than its initial public offering price of $38.
