Tuesday, May 29, 2012

Facebook Is About To Make One Of Its Largest Acquisitions Ever

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Facebook is working on a big deal to acquire Face.com, according to multiple reports.

The estimated buy price is between $80 and $100 million, but TechCrunch's sources peg it at the latter.

That would make Face.com one of Facebook's largest acquisitions yet. It spent about $1 billion on Instagram in cash and stock. In 2009 Facebook spent $50 million on FriendFeed but the deal actually ended up being worth ~$330 million when Facebook's valuation skyrocketed.

Face.com is a face recognition technology that's already integrated with Facebook. It can auto-tag friends in photos uploaded by users, either one at a time or by entire albums. It can guess a user's age, gender and even mood. Face.com has a mobile API and an app called KLIK that uses a camera to auto tag Facebook photos.

Face.com has only raised $5.3 million to date, so the 9-figure exit would be a big win for founders Eden Shochat, Gil Hirsch, Yaniv Taigman and Moti Shniberg, and investors Yandex and Rhodium. It was founded in Israel in 2007.

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