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Facebook makes e-commerce ambitions clear with TheFind acquisition

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Social networking giant Facebook embraced e-commerce after it 
acquired shopping search engine 'TheFind,' signalling its aspirations in
 two of the internet's biggest money-makers: search and e-commerce.<br />
<br />
Both
 Facebook and TheFind cast the acquisition as a way to lift the digital 
advertising business of Facebook, which with $12.6 billion in annual ad 
sales last year, is unquestionably a dominant player in the industry.<br />
<br />
"Together,
 we believe we can make the Facebook ads experience even more relevant 
and better for consumers," Facebook said in a statement about the deal. 
TheFind echoed those comments, saying its technology would be integrated
 into Facebook "to make the ads you see on Facebook every day better and
 more relevant to you."<br />
<br />
In its webpost, TheFind said many of its 
employees would be joining Facebook and work on improving the relevance 
of the social network's advertising. TheFind added that its search 
engine will go offline "in the next few weeks."<br />
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Facebook has been 
testing a 'buy' button since July 2014 that lets users purchase goods 
directly. Now, with TheFind, it would be able to add additional shopping
 tools to its service.<br />
Facebook did not reveal details of the 
acquisition, including how much it paid for the company. TheFind was 
co-founded in 2006 by CEO Siva Kumar and CTO Shashikant Khandelwal, both
 native Indians.<br />
<br />
TheFind previously raised $26 million in three investment rounds, but had not received an influx of cash since 2007.<br />
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Facebook makes e-commerce ambitions clear with TheFind acquisition

Social networking giant Facebook embraced e-commerce after it acquired shopping search engine ...