Tom Cheredar has reported that Facebook’s rumored interest in purchasing facial recognition startup Face.com may become a reality thanks to some help from an unlikely source.
Mark Zuckerberg is interested in purchasing first emerged on Monday,with a report in Israel’s Calcalist that was then spun up with a potential $100 million price tag by The Next Web.Here the deal of Top Ranked Russian Search Engine Yandex Is Going To Sell Share Of Face.com To Facebook.
Highest popular Russian search engine Yandex is said to be mulling the sale of its share in Face.com to the social giant,according to the Russian newspaper Vedomosti (Google Translate).Yandex,along with investment firm Rhodium,invested $4.3 million in the startup for a 18.4 percent stake of Face.com and an arrangement to add Yandex’s CEO Arkady Volozh to its board of directors.
2.Present Report from Yandex:-
Yandex is interested in a combination of cash and Facebook stock for its stake in Face.com, according to Vedomosti’s report.Earlier reports indicated that Facebook was willing to spend upwards of $100 million on the startup. Face.com is an Israeli-based company that specializes in facial recognition technology. BloggersTech has speculated that the deal would make sense,considering how well it would fit into Facebook’s overall mobile strategy.
3.Reason behind Yandex deal:-
Whatever the case,it is worth being very,very wary of rumors like this right now.Troubled or not,Facebook’s IPO now means it has a substantial war chest and is likely to make some acquisitions—and that means lots of people have a lot of interest in talking up deals or trying to inflate any potential purchase price.I expect we will see a lot of well-placed rumors and leaks over the next few months as hot startups try to negotiate a chunk of Facebook for themselves.
We are trying to reach out to both Facebook and Yandex for further comment about the deal but till no official confirmation comes yet.I am sure it will be update the post with any new information.
[Source:Gigaom & Image via Face.com]