Facebook Buys Face.com, Adds Facial-Recognition Software
Facebook Inc. (FB), owner of the world’s largest social-networking website, acquired Face.com, adding technology that enables facial recognition in photos.
Terms weren’t disclosed. Face.com helps users 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 today in a blog posting.
“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,” said Ashley Zandy, a Facebook spokeswoman, in an e-mailed statement. “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.
Facebook rose 4.7 percent to $31.41 at the close in New York, marking a gain of 15 percent over the past three trading days. The stock is still 17 percent lower than its initial public offering price of $38 on May 18.
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