The Menlo Park, California based Facebook Inc (NASDAQ:FB) purchased Face.com, adding up technology that allows facial recognition in photos.
Facebook, owner of the world’s biggest social-networking website, reported that Face.com allows consumers to tag photos and find images online by unique facial features on social networks and photo-sharing sites. The terms of the agreement were not disclosed yet.
The world’s biggest social networking company previously uses few of Face.com’s applications. Face.com reported the acquisition in a blog posting on Monday.
Facebook spokeswoman Ashley Zandy stated in an e-mailed statement that the users who use Facebook enjoy sharing photos and memories with their friends and Face.com’s technology has assisted to offer the most excellent photo experience.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Renren Inc (NYSE:RENN) moves up +4.66% to settle at $4.72, Zynga Inc (NASDAQ:ZNGA) moved up +3.96% to end at $5.78 while Groupon Inc (NASDAQ:GRPN) increased +10.83% to finish on Monday at $11.15.
Facebook Inc (NASDAQ:FB) last session volume of 42.98 million shares was surprisingly lower than its average volume of 81.30 million shares. The stock after opening at $29.95 hit high price of $32.08 and then closed at $31.41 by scoring +4.65%.
FB generated revenue of 3.71 billion in the following twelve months and earned $668.00 million. The Company showed a positive +26.95% in the net profit margin and as well as in its operating margin which remained +47.32%.
The FB past twelve months price to sales ratio was 18.10 and price to cash ratio remained 17.18. The stock showed weekly upbeat performance of +16.29% while the YTD performance remained at -17.84%.
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