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.
As AI becomes central to search, decision-making, and even creative work, the question isn’t just…
Imagine a kitchen where a robotic arm dices onions, a vision system judges the perfect…
Researchers looked at a million ChatGPT interaction logs and concluded that after creative composition, the most popular…
A recent news informs that some therapists are now secretly using ChatGPT during therapy sessions.…
The social impact of digitization is palpable even before AI enters the picture. Research shows…
The Tech Panda takes a look at recent tech launches. Data Analytics: The Most Scalable…