Facebook is excited about their latest acquisition, the artificial intelligence startup Grokstyle, saying its technology can boost their AI capabilities.
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The social media giant didn’t exactly say how it intends to use the visual search app, nor did it disclose the purchase price, but logic dictates that Grokstyle’s technology will be very useful for Facebook Marketplace.
It’s no secret that Facebook has been working not only to expand the categories on Marketplace, but also to add messaging and AI features thanks to a number of startups it purchased last year.
Incorporating Grokstyle into the Marketplace will simplify the process of shopping, specifically for furniture. Once an online shopper uploads a picture of a furniture piece they like, Grokstyle will match it with similar items to help them decide what to buy.
“We are excited to welcome GrokStyle to Facebook. Their team and technology will contribute to our AI capabilities.” – Vanessa Chan, Facebook Spokeswoman
Grokstyle says goodbye
Grokstyle’s website displays a thank you message for its customers, investors and employees, but there is no mention of Facebook.
Despite winding down its business, the startup said its technology will continue to build great visual search experiences for retail.
“We partnered with major retailers, demonstrated revenue lift with our technology, and improved the lives of consumers across the globe. We are incredibly proud of what we have built — and believe we have only scratched the surface of what is possible with computer vision…Thank you for everything you have done to get us to today. It has been an exciting journey; we could not have accomplished what we have without you.” – Grokstyle
Can you guess what Facebook wants to achieve with its acquisition spree? Share your thoughts with us in the comments below or over on our Facebook Group here.
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