TheFind Acquired by Facebook as a Venture in the E-commerce Segment
Published By : 16 Mar 2015 | Published By : QYRESEARCH
Facebook, the world’s social network giant has recently adopted e-commerce once it took over TheFind, a search engine for shopping. This pointed to the fact that the company has inclination towards two most lucrative areas of the internet which are e-commerce and search. By entering into such collaboration, TheFind and Facebook have given a major boost to Facebook’s business of digital advertising.
Facebook is undoubtedly a key market participant in the global market since last year its annual sales revenue from advertisements was close to US$12.6 billion. Senior officials of Facebook expressed that Facebook along with TheFind have the capacity to the ads experience a more relevant and the convenient one. This will also prove to be beneficial to consumers all across the globe. TheFind also stated that there will soon be the integration of its technology into Facebook. The main rationale behind taking such a step is to make Facebook better for and relevant to most of the consumers.
TheFind, in one of its webposts also expressed that several of its employees will join Facebook in order to work on the improvement of the relevance of advertising on the social network platform. Also, TheFind’s search engine will be on the offline mode over the forthcoming few weeks. Since 2014 July, Facebook, in order to enable users to make direct purchases, has been observing and testing the “buy” button. And at present, along with TheFind, Facebook will be in a position to add greater shopping tools in this particular service. No details of the acquisition were disclosed by Facebook, which also includes the sum that was paid to acquire TheFind.