Social networking giant Facebook has reportedly planned to pay 80 million to $100 million dollars to buy the facial-recognition technology company Face.com.
Face.com, an Israeli company, allows people tag photos on the Internet by figuring out who is in them.
The firm, which announced the acquisition on its blog on Monday, said that by working with Facebook it will have more opportunities to develop technology that people will use.
“By working with Facebook directly, and joining their team, we’ll have more opportunities to build amazing products that will be employed by consumers,” said Gil Hirsch, Face chief executive officer.
Both Face and Facebook declined to comment on the financial terms of the deal, CBS News reports.
In the past, Facebook has shuttered sites that it acquired and folded in their employees to its workforce. So far, Instagram, which Facebook purchased for $1 billion, has been the only exception.
According to the report, comments from Facebook suggested that Face will remain mainly autonomous, much like Instagram.
Patient records have long been a collection of handwritten notes, prescription slips, and test results,…
The fast pace development of the hospitality industry will result in contactless technology adoption, where…
In the ever-evolving world of digital marketing, a powerful shift is quietly transforming the way…
Philosophical at its core, open innovation is a socio-economic movement synonymous with globalization and decentralization…
Parenting is never an easy task. Ask any parent today about the biggest challenge, and…
In the last decade, purchasing and accessing products and services have undergone a radical transformation.…