Facebook Confirms That it’s Acquiring Bloomsbury AI
Facebook announced this morning that the London based team at Bloomsbury AI will be joining the company from now.
Facebook would reply the team and the technology to assist in its efforts to fight against the fake news and of course other content issues.
In fact, The Bloomsbury AI Co-Founder and Head of the Research Sebestian Riedel also co-founded Factmata, a startup which aims only to develop the tools that could help the brands combat the fake news.
Facebook of course does not quite put that in the announcement post. But, instead they says the team’s “expertise will strengthen Facebook efforts in natural language processing research, and help us further understand natural language and its applications” — but it does seems that it is possible to those application which could easily detect the misinformation and other sort of problematic content on facebook.
While financial terms were of course not discussed, but the reported person says that Facebook is paying between $23 and $30 million.
Bloomsbury AI is an alumnus of Entrepreneur First, and as well as it was backed by the Fly.VS, Seedcamp, IQ Capital, UCL Technology Fund and the U.K. taxpayer-funded London co investment fund.