Facebook in talks to buy Face.com
Face.com is a Tel Aviv-based technology company that has developed a platform for efficient and accurate facial recognition in photos uploaded via Web and mobile applications. Face.com apps and API services scan billions of photos monthly and tag faces in those photos, tying them directly to available social networking information.
Face.com has raised a total of $5.3 million in funding for their face recognition technology. A Series A round, totaling $1 million was raised in February 2009. In September 2010, the company announced that it had closed a Series B round of $4.3 million, led by previous investor Rhodium and Russia-based search engine Yandex.
Yandex along with Rhodium hold an 18.4 percent stake in the company. Sources report Yandex may want cash and stock in Facebook, which recently went public, as part of the deal.
Will Facebook obtain a strategic advantage by acquiring Face.com?