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Innovation

Facebook acquires image-matching tech startup GrokStyle

Facebook has acquired visual shopping and artificial intelligence (AI) startup GrokStyle Inc for an undisclosed sum.

Facebook spokesperson Vanessa Chan said the recent acquisition will bolster the social media company’s own AI capabilities, according to a report from Bloomberg.

GrokStyle, which provides the AI technology that powers visual search engines, was behind the feature in Ikea’s mobile app, where users could take a picture of a piece of furniture and search for similar products in the retailer’s inventory that they could purchase online.

On its website, GrokStyle posted it is “winding down” its business, but that it is “moving on as a team” along with its technology. The company did not mention it is joining Facebook.

“Our team and technology will live on, and we will continue using our AI to build great visual search experiences for retail.”

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

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