The social networking site Facebook has bought an online shopping search site TheFind, San Jose Mercury News reported. However, the financial terms of the deal have been kept under the wraps.
Mountain View-based TheFind enables shoppers to search many different sites for specific products or items. According to a Facebook spokeswoman, TheFind's team will be given the responsibility for making sure users of Facebook view advertisements for items or products they want.
The company's skillful team has successfully created a search engine connects customers to products. The company's search engine allows shoppers to type in products or items they are looking to buy and it will display results from Ebay, Zappos, Etsy, Amazon, Nordstrom and Target. TheFind also caters to the needs of customers who want to purchase locally. It's easy for customers to compare prices between different retailers on TheFind.
Established in 2006, TheFind claims to have about 15 million shoppers. Some of TheFind's investors include Lightspeed Venture Partners, Bain Capital and Redpoint Ventures.
TheFind said on its website that they will close the search engine in the next few weeks. The company also disclosed that important members of the team will join Facebook and will make Facebook ads more relevant to customers. Fancy.com, PopSugar Network-owned and Pinterest are some of TheFind's social shopping competitors.
It is not clear how the giant social network will integrate TheFind's technology into its system. However, according to Business Insider, it is possible that Facebook will use TheFind's recommendation system to target ads on the site.