Facebook Buys Shopping Site TheFind, Then Shuts it Down

By Tim Maytom

thefind combo

Facebook has acquired personalised shopping search engine TheFind, shutting down the main site and supposedly planning to integrate the company’s technology with its own to improve its commerce ads.

TheFind was established in 2005 and uses patented multichannel eCommerce technology to provide shoppers with a personalised selection of products from across the internet.

The site provides customers with customised recommendations for products while providing users with a massive database of products to search through and use to compare prices.

The cost of Facebook’s acquisition bid has not been revealed, but the startup has raised $26m (£17.6m) from Lightspeed and Redpoint over the last nine years. Some of TheFind’s employees will be joining Facebook, although not all of them.

“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,” wrote TheFind’s team on a post announcing the sale.

“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 1bn …read more

Source:: Mobile App News

      

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