Facebook acquires visual shopping startup GrokStyle Inc

Facebook said it acquired visual shopping and artificial intelligence startup GrokStyle Inc, to improve the social-media company’s own AI work. GrokStyle’s technology is integrated into Ikea’s mobile app.
A user takes a picture of a piece of furniture and the technology would match it to similar products that could be purchased online. On its website, GrokStyle said it is “winding down” its business, but that it is “moving on as a team” along with its technology and they didn’t disclose it’s joining Facebook.

Facebook spokeswoman Vanessa Chan said “We are excited to welcome GrokStyle to Facebook, Their team and technology will contribute to our AI capabilities.” however, she did not disclose a purchase price.

Earlier this month, Facebook bought the team behind blockchain technology company Chainspace. Facebook could use the underlying AI technology and GrokStyle’s employees to bolster its own efforts in the field. The startup’s specific technology also makes sense for Facebook Marketplace, the company’s service for buying and selling items from other Facebook users on its social network.

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