Facebook acquires social shopping site TheFind

Facebook Inc. on Friday said it has acquired TheFind, a search engine that crawls the Internet to offer consumers a personalized shopping experience based on their social profile and the way they shop.

The acquisition comes as Facebook FB, -1.11% has begun testing “buy” buttons that lets advertisers sell products through advertisements on the social network.

“TheFind’s talented team has built a successful search engine that connects people to products,” a Facebook spokeswoman said. “Together, we believe we can make the Facebook ads experience even more relevant and better for consumers.”

Terms of the deal weren’t disclosed.

The nine-year-old company will shut down its service, and some members of TheFind’s team will be joining Facebook where they will work to integrate its technology into the social network’s advertising platform, according to a company blog post published Friday.

Source : marketwatch