Facebook is acquiring shopping search engine TheFind to pump up its e-commerce platform and strengthen its staff, according to reports.
TheFind, based in Mountain View, Calif., reported the news on its site Friday stating:
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.
U.S. & World
The acquisition sounds like an obvious acqui-hire, or acquisition to gain skilled employees, but it also strengthens Facebook's toehold into the realm of e-commerce. TheFind, which started in 2006, claims to have 15 million shoppers who use the service, and that number alone may be worth the buy -- although terms of the deal were not disclosed.