Saturday, July 24, 2021

Facebook Scoops Up Face.com

TechCrunch: Facebook has announced that it will purchase Israeli facial recognition company Face.com. The companies did not reveal the acquisition price. Several media outlets are reporting that Facebook paid between $80 million and $100 million; TechCrunch’s sources say the actual price will be between $55 million and $60 million in a cash and stock deal.

Facebook will likely use Face.com’s technology to improve its photo-tagging capabilities and possibly to add mobile photo-tagging capabilities.

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