GrokStyle, a retail computer vision outfit announced that it is being acquired by Facebook. A blog posted on its homepage explained
We built state-of-the-art AI and visual search technology to help consumers readily find, explore, and decide on purchases. 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.
Today, we are excited to share that we are moving on as a team. Our team and technology will live on, and we will continue using our AI to build great visual search experiences for retail. As part of this next chapter, we are winding down our business.
“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.
According to Bloomberg, Facebook could use the underlying AI technology and GrokStyle’s employees to bolster its own efforts in the field. The startup was founded in 2016 according to CrunchBase, is a San Francisco startup specializing in visual search. The company is known for technology that allows shoppers to search for furniture and other items by taking photos with their phones.
GrokStyle’s AI based technology had been integrated into Ikea’s mobile app. On the Ikea mobile app, users can snap a photo of a piece of furniture and use GrokStyle’s technology to receive matches for similar products. Facebook is expected to use the underlying AI technology to bolster its 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.