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The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure

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Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

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The pig in the python: Baby boomers are strangling the economy they built by refusing to move or retire
AI

Facebook’s Artificial Intelligence Grows With Acquisition of Visual Shopping Startup GrokStyle

By
Mark Gurman
Mark Gurman
and
Bloomberg
Bloomberg
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By
Mark Gurman
Mark Gurman
and
Bloomberg
Bloomberg
Down Arrow Button Icon
February 8, 2019, 6:14 PM ET

Facebook said it acquired visual shopping and artificial intelligence startup GrokStyle in a move to bolster the social-media company’s own AI work.

GrokStyle’s technology, which was integrated into Ikea’s mobile app, was simple in practice. 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. The company didn’t disclose it’s joining (FB) Facebook.

“We are excited to welcome GrokStyle to Facebook,” Facebook spokeswoman Vanessa Chan said in a statement. “Their team and technology will contribute to our AI capabilities.” She declined to disclose a purchase price.

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.

The GrokStyle purchase marks the second reported acquisition by Facebook this year. Earlier this month, the company bought the team behind blockchain technology company Chainspace for an undisclosed sum. The company purchased at least four firms last year, including startups focused on messaging and AI.

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