Facebook buys web shopping search engine, TheFind

Mountain View’s shopping search engine TheFind has been acquired by Facebook, according to an announcement made Friday. There were not any details disclosed regarding the deal.

TheFind, based in Mountain View, Calif., gives customers an avenue to search for particular products on hundreds of sites at once, according to PC Magazine. However, Mercury News reported that the deal with Facebook is more about targeting advertisements than about e-commerce.

Facebook stated that they believe TheFind can aid in making Facebook’s ads experience “more relevant and better for consumers,” according to Mercury. Facebook added that they are focused on connecting users with companies, brands, products and topics they care about, and they are looking forward to achieving that with “TheFind on board.”

 In return, Facebook’s 1 billion-user platform and resources are aiding in improving TheFind’s expertise on product sourcing for those who use the platform. TheFind expressed their excitement about the deal with Facebook. A message on their home page reads “We are joining Facebook!” in large print. TheFind added, on their website, that they are beginning their “next chapter by joining forces with Facebook to do even more for consumers.”

The company said that “key members” will be joining Facebook. And users will not be able to use their website for long; they are taking it down within the next few weeks.

Facebook paid an unknown amount for the 9-year-old company. TheFind raised more than $17.6 million in venture financing from Lightspeed Venture Partners, Redpoint Ventures, Bain Capital Ventures and Cambrian Ventures. Facebook ended having a 1.1 percent share loss on Friday and did not move following the announcement of the deal.

TheFind was launched in 2006. Their goal was to make online shopping an easier experience by allowing users to search for a product on all web stores. The site used past shopping searches, clicks on their website and Facebook “likes” to help shoppers find products.

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