Facebook acquires online shopping search engine The Find
On the face of it, Facebook's standing as a social platform is the company's primary focus. However, in order to capitalize on the built-in audience of users, Facebook has made more efforts to make the network an attractive medium for advertisers. Recently, the company announced that it has acquired The Find, a shopping search engine aimed at helping consumers discover items that are available for purchase through various ecommerce vendors.
"Key members of our team are joining the company and will be working hard to integrate our technology to make the ads you see on Facebook every day better and more relevant to you," The Find said in a statement. "Unfortunately, this means we will be taking our search engine offline in the next few weeks."
Sometimes, startups must make temporary sacrifices to their delivery model to suit the bigger goals of a buying company. In the case of The Find, a Denver-based firm, going offline during the integration process will set the stage for much more visible exposure down the road.
Facebook data provides valuable insights into online habits, allowing targeted advertising to reach the most appropriate consumers. For ecommerce vendors, this type of directed marketing can provide access to key demographics. On the customer side, receiving marketing materials that speak to an individual's taste and preferences can make it easier to find items that person needs or wants.
In the early days of Facebook, many market watchers wondered how the company would ever become profitable. With the rise of social marketing, that question has largely been answered with savvy acquisition strategy aimed to capitalize on the billion-plus users of the site around the world.