Social giant Facebook acquires face recognition Face.com platform

By ONE Liners Agency
June 18, 2012

It's an awesome news for Face.com as well as Facebook. The face recognition platform Face.com has now been acquired by social networking giant Facebook.

The masthead on the home page of Face.com reads, "Facebook has acquired Face.com!", thus making the announcement to be official which was rumored earlier that the two giant is in talks regarding acquisition.

The sum at which Facebook has acquired Face.com remains undisclosed by either sites. Also, terms of the deal remains a secret so far. Face.com only says now they can get "more opportunities" to build products. The company also said the social giant will keep the support going to Face.com's developer community.

The rumor related to Facebook interested in acquiring Face.com cropped up last month suggesting the two companies are in talks. Israel-based business publication Calcalist however mentioned in one report that the acquisition amount may be between $80 million and $100 million.

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June 18, 2012 | 0 comments

Facebook Unplugged: Bigwigs Quit, Building Own Businesses

Mark Zuckerberg

“Eventually, I felt Facebook became too big and too corporate, and that’s when I decided to leave.”

The statement came from the mouth of Facebook’s early employee Netanel Jacobsson, who was Facebook’s director of international business development before leaving Facebook last year.

Mr. Jacobsson is not alone, but the fact is, a number of Facebook’s early employees are giving their jobs and free food and laundry services to join the entrepreneur spree. The exponential growth of this social networking site has rocketed to an incredible successful height in just six years. It is the most successful start-up of the past decade and still an initial public offering is way off. However, the quick attrition amongst early Facebook employees has raised eyebrows.

Many of former employees have studied with founder Mark Zuckerberg in Harvard University. One of the cofounders Dustin Moskovitz who was the room partner of Mr. Zuckerberg, left his job to start his own venture 'Asana'. His company makes software that helps workers collaborate.

Another Facebook co-founder, Chris Huges, has started 'Jumo', a social network for “people who want to change the world.”

The departure of early employees in the Silicon Valley successes is not a new phenomenon. Earlier, PayPal’s alumni had started other successful ventures such as YouTube, Digg, Slide and Yelp, and invested in Facebook. They are better known as PayPal mafia. In the same way internet giant Google’s former employees are known as Xooglers.

However, Facebook do not seem worried about the mass exodus. Larry Yu, the spokesman of Facebook said that the parting of former employees were small and nothing to worry about. He also said that it was expected because early employees were all entrepreneurs at heart, so it was therefore not shocking.

“We don’t view attrition as a particular prominent issue for us at this time, “he said.

Former Facebook’s employees agreed on one point that the company was a great training ground. The resilience of Mr. Zuckerberg for not accepting advertisements during their infancy stage reflected his prudent vision. Also, they acknowledged their experience fetched them a great network of contacts. It is said that former employees communicate with each other for advice.

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November 05, 2010 | 0 comments