Facebook acquires TheFind e-commerce site
Facebook has acquired TheFind, an e-commerce search site, it has announced. TheFind revealed the acquisition on its website today, saying that after nine years of hard work it is kicking off its "next chapter" by merging with Facebook, the social network powerhouse that is, apparently, looking to up its advertisements prowess. This comes shortly after a judge ruled Facebook must face a lawsuit related to its refusal to refund purchases made by minors who used their parents banking information.
A lot of people use TheFind to find products available online through many retailers, as well as in retail stores when possible. It fleshes out its service with things like coupons for specific devices if they're being offered by a store or two, as well as a map to visually see where products are available in the region around the user.
Facebook, though, isn't so interested in getting into the e-commerce business. Rather, the social network is more concerned about advertisements, at least according to the San Jose Mercury News, which reports that a Facebook spokesperson confirmed its plans. The "TheFind" team will be moving over to Facebook where they will be working to ensure Facebook's own users get targeted advertisements.
It isn't clear how much Facebook paid of the service. What we do know is that TheFind's "key" team members will be moving on to Facebook, but TheFind's website itself will be closing down "in the next few weeks" — bad news for those who enjoyed TheFind's product-hunting powers, and lackluster news for Facebook users who, in all likelihood, don't care much about the acquisition either way. For advertisers, though, it's another piece of incentive to join the social network's platform.