Facebook has announced the purchase of startup The Find, an online shopping search engine.
The Find's search engine allows shoppers to specify a desired product before yielding results from online retailers ranging from Target and Nordstrom to Etsy and eBay, reported Business Insider. Shoppers can even tailor searches to their own location for more local results.
Once a search has been completed, shoppers can view the full competitive retail price range for the desired product, rather than comparing prices on each store's website.
The Find, which launched in 2006 as a shopping comparison resource, will temporarily shut down its services as the company merges with Facebook.
The terms of the deal were not openly discussed and it is yet to be seen how Facebook will integrate The Find's technology into its current system.
"For the last nine years, we've worked hard to bring you a shopping experience that's easy, efficient and fun—searching all the stores on the Web to find just the right products you're looking to buy," said a company statement issued by The Find. "We are now starting our next chapter by combining forces with Facebook to do even more for consumers. Facebook's resources and platform give us the opportunity to scale our expertise in product sourcing to the over 1 billion people that use the platform."
It's no surprise that Facebook would have an interest in The Find. Social networks are becoming increasingly important in shopper purchasing decisions. Social media sites such as Facebook are also important platforms for retailers and customers to interact and improve upon customer service.
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