Facebook has purchased shopping search engine TheFind, and will use its technology to improve ad relevancy, reports Marketing Land.
TheFind searches more than 500 million products across 500,000 stores, providing personalised shopping search results based on user behaviour and social signals gleaned from integrated Facebook accounts.
Exactly how Facebook intends to use the technology isn't clear, but in a statement emailed to Marketing Land, a spokesperson wrote: "Together, we believe we can make the Facebook ads experience even more relevant and better for consumers."
The statement continued:
Our business is about connecting people with the topics, companies, brands, and increasingly products they care about and we look forward to doing that with TheFind on board.
In a statement published on its homepage, TheFind wrote that the merger allowed it to do "even more for consumers", by reaching a wider audience:
Facebook's resources and platform give us the opportunity to scale our expertise in product sourcing to the over 1 billion people that use the platform
The statement also revealed that TheFind's search services would be taken offline "in the next few weeks". No announcement has been made as to when Facebook will start integrating TheFind's technology.
Marketing Land posits that Facebook may use the newly-acquired technology to help it implement a 'Buy' button - a feature that has been long-rumoured, and even tested by Facebook, but has yet to roll out.
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