Facebook’s $1 billion deal to acquire Instagram was actually a $715 million deal to acquire Instagram, as the social network’s slumping stock price lowered the value of the major component of the deal for the photo-sharing application, Facebook revealed in its 10-Q filing with the Securities and Exchange Commission.
The 45,000-plus developers that previously used facial-recognition application-programming interfaces from Face.com and saw those APIs shuttered after the company was acquired by Facebook may have an alternative via startup Lambda Labs.
Facebook has made quite the flurry of acquisitions lately. Last week, the social network acquired Threadsy. The word on Wednesday is that Facebook could consider purchasing Waze, developer of a well-liked, free, community-based traffic-nav app. Waze has nearly 6,200 users talking about it and the app has garnered 126,000 likes.
Europeans are growing increasingly suspicious of Facebook’s facial-recognition efforts. Earlier this month, Norway announced that it is looking into the legality of the social network’s technology. Now, Germany is doing the same. Data-protection officials in Germany worry that Facebook is compiling a photo database of users without their consent, so they are reopening their investigation.
Not everyone was excited when Facebook acquired facial recognition software company Face.com. Sen. Al Franken (D-Minn.), the radio host-turned-politician, called a hearing Wednesday to discuss issues regarding facial recognition. In particular, he didn’t care for Facebook’s opt-in by default setting and what it means for privacy.
Following its acquisition by Facebook last month, Israeli-based facial recognition site Face.com is shuttering its own products, including its application-programming interfaces and Klik iPhone application, to focus on the social network.
Facebook’s acquisition of facial-recognition firm Face.com earlier this week rekindled concerns about the social network’s use of facial-recognition technology, which has come under fire in the past. While the feature cannot be turned off altogether, there are ways to limit its use.
As previously rumored, Facebook announced Monday morning that it has acquired Face.com, an Israeli-based facial recognition site. TechCrunch reports that the social network will likely use Face.com’s software to bolster mobile photo tagging.
There’s well over 10 billion photos on Facebook, making it the largest photo-sharing site on the web. Now that’s a lot of people tagging each other. Face.com’s Facebook app, called Photo Finder, has taken on the task of tagging every last one of these photos, and a month after launching its beta version, Photo Finder has scanned over 400 million photos, getting through 13 million photos in a single day.