However, the terms of the deal were not disclosed. The acquisition is expected to close in the next few weeks. TheFind, which was founded in 2006, will shut down and some of its key employees will work at the social media company.

TheFind lets users search for items to buy from websites or in local stores. It is based Mountain View, California. In a statement on Friday, Facebook said that TheFind will help make its ads more relevant and better for its users.

Facebook employees have direct access to users' account: Report

Do you know that certain people can access Facebook accounts without the need for passwords?

Some Facebook employees have direct access to your account. But Facebook has explained that this is part of a tiered and strictly-managed customer support set-up, with employees abusing this trust getting fired, VentureBeat reported.

"Access is tiered and limited by job function, and designated employees may only access the amount of information that's necessary to carry out their job responsibilities, such as responding to bug reports or account support inquiries,” VentureBeat quoted a Facebook spokesperson as saying.

"Two separate systems are in place to detect suspicious patterns of behaviour, and these systems produce reports once per week, which are reviewed by two independent security teams," he said.

"We have a zero tolerance approach to abuse, and improper behaviour results in termination," the spokesperson added.