Last remaining seats to the Jpost 2017 Annual Conference! Get your special offer now

Facebook buys Israeli start-up for estimated $100m.

June 18, 2012 22:41

Tel Aviv-based has developed facial recognition technology for photographs loaded onto websites.

Facebook CEO Mark Zuckerberg

Facebook CEO Mark Zuckerberg 311. (photo credit:Courtesy)

Facebook Inc. announced Monday that it has acquired Tel-Aviv-based facial-recognition technology company No financial details were disclosed but sources believe that the acquisition has been made for about $100 million., founded in 2007, has developed technology used for facial recognition on photos loaded onto websites and through mobile applications. The company has released two apps used on Facebook called Photo Finder and Photo Tagger.

Be the first to know - Join our Facebook page.

In a brief statement, Facebook said the company’s technology “has helped to provide the best photo experience” for people sharing photos over the social network.

Facebook added, “This transaction simply brings a world-class team and a long-time technology vendor in house." is Facebook's second acquisition in Israel, following the acquisition of Snaptu for $70 million in March 2011. Snaptu's app provides ordinary mobile phones (not smartphones) easy access to social networks, such as Facebook and Twitter. Following the deal, Snaptu's workforce moved to Facebook's headquarters, where they joined its mobile division to develop a unique Facebook app for ordinary mobile phones, as part of the social network's attempt to enter emerging markets where the use of smartphones is just beginning.

It remains to be seen if will remain based in Israel or whether it will be moved to Facebook headquarters like Snaptu. has raised $5.8 million since it was founded in 2007 thus's investors will make a handsome return on their investment.

CEO Gil Hirsch, CTO Yaniv Taigman, chairman Moti Shniberg, and director Eden Shochat founded Investors include Russian search engine Yandex, which invested $4.3 million in September 2011 and Daniel Recanati's Rhodium Ventures which holds a 18.4% stake. Other investors include Yaniv Golan, Yariv Gilat, and co-founder Shochat.
Relevant to your professional network? Please share on Linkedin

  • Facebook
  • Share this article via
    from around the web
    Related Content
    The Teva Pharmaceutical Industries
    April 30, 2015
    Teva doubles down on Mylan, despite rejection


    Top Stories
    Israel Weather
    • 11 - 23
      Beer Sheva
      14 - 21
      Tel Aviv - Yafo
    • 10 - 18
      12 - 19
    • 16 - 28
      18 - 27