The acquisition will add on to the digital advertising business of Facebook, which generated revenues of USD 12.6 billion in annual ad sales in 2014, indianretailer.com reports. Facebook has been testing a buy button since July 2014 that lets users purchase goods directly.
Now, with TheFind, it would be able to add additional shopping tools to its service. TheFind was co-founded in 2006 by CEO Siva Kumar and CTO Shashikant Khandelwal and it raised USD 26 million in three investment rounds. However, it has not received any influx of cash since 2007.
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