Fb confirms that it’s buying Bloomsbury AI – TechCrunch
Fb introduced this morning that the London-based staff at Bloomsbury AI might be becoming a member of the corporate.
My colleague Steve O’Hear broke the information in regards to the acquisition, reporting that Fb would deploy the staff and expertise to help in its efforts to battle faux information and deal with different content material points.
In truth, Bloomsbury AI co-founder and Head of Analysis Sebastian Riedel additionally co-founded Factmata, a startup that purports to have developed instruments to assist manufacturers fight faux information.
Fb doesn’t fairly put it that method within the announcement put up. As an alternative, it says the staff’s “expertise will strengthen Facebook’s efforts in natural language processing research, and help us further understand natural language and its applications” — however it definitely appears doable that these functions might embody detecting misinformation and different problematic content material.
Whereas monetary phrases weren’t disclosed, we reported that Fb is paying between $23 and $30 million. Bloomsbury AI is an alumnus of Entrepreneur First, and it was additionally backed by Fly.VC, Seedcamp, IQ Capital, UCL Expertise Fund and the U.Ok. taxpayer-funded London Co-investment Fund.