Facebook has purchased a startup company called Source3. The news of the acquisition was announced on the Source3 website.
The social media giant will be using the technology acquired in the purchase of Source3 to crack down on pirated videos.
At Source3, we set out to recognize, organize and analyze branded intellectual property in user-generated content, and we are proud to have identified products across a variety of areas including sports, music, entertainment and fashion. Along the way, we built an end-to-end platform to manage online IP and establish relationships with brands.
Today, we wanted to let everyone know that we’ve decided to continue our journey with Facebook. We’re excited to bring our IP, trademark and copyright expertise to the team at Facebook and serve their global community of two billion people, who consume content, music, videos and other IP every day.
You can see more details about the acquisition over at Source3 at the link below. As yet there are no details on how much Facebook paid for the company.