RUMOR: Facebook Planning To Buy Face.com For Roughly $100 Million
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
According to Israeli publication Calcalist, Facebook is rumored to acquiring Face.com for somewhere between $80- $100 million. Acquisition talks have taken place several times over the last few years. Face.com held back because of the “low” price Facebook was willing to pay. Face.com was founded in 2007 and has developed accurate facial recognition software. Facebook would be able to use Face.com to identify people in photos faster on the desktop and mobile devices. Face.com built a Facebook application called Photo Tagger, which lets users scan their photo albums for known faces. The company also recently launched a mobile facial recognition app for iOS called KLIK. Face.com has raised $5.3 million in funding from Yandex and Rhodium.