Facebook is working on a big deal to acquire Face.com, according to multiple reports.
The estimated buy price is between $80 and $100 million, but TechCrunch’s sources peg it at the latter.
That would make Face.com one of Facebook’s largest acquisitions yet. It spent about $1 billion on Instagram in cash and stock. In 2009 Facebook spent $50 million on FriendFeed but the deal actually ended up being worth ~$330 million when Facebook’s valuation skyrocketed.
Face.com is a face recognition technology that’s already integrated with Facebook. It can auto-tag friends in photos uploaded by users, either one at a time or by entire albums. It can guess a user’s age, gender and even mood. Face.com has a mobile API and an app called KLIK that uses a camera to auto tag Facebook photos.
Face.com has only raised $5.3 million to date, so the 9-figure exit would be a big win for founders Eden Shochat, Gil Hirsch, Yaniv Taigman and Moti Shniberg, and investors Yandex and Rhodium. It was founded in Israel in 2007.
It’s easy to see why the acquisition makes a lot of sense for Facebook — not to mention Facebook would be picking up a great domain name.
Here’s what KLIK, Face.com’s mobile app, looks like. And here’s a walk-through of how the app works >
Photo: Klik via App Store