Shark Tank Investor and Billionaire Dallas Mavericks Owner Backs Factmata A British Startup Fighting Fake News
Despite not seeing eye to eye with President Donald Trump on many issues, tech entrepreneur and investor Mark Cuban hopes to help bring an end to fake news. To many it seems that Trump charges “Fake News” at anything bit of news he doesn’t agree with. Although that’s not entirely the case, there is still plenty of trumped up news out in the world (you see what we did there). In the age of the 15 millisecond news cycle, anything that can help weed out the fake news is welcomed by many.
Cuban has put up some cash to help fight fake news by investing in British startup Factama. The company uses artificial intelligence to “tackle the proliferation of fake and misleading news” Business Insider reports. In addition to algorithms and AI, the company hopes to create a community not unlike Quora or Wikipedia where the public helps disseminate the fake news as well.
Factama is on their way to releasing their first product early next year. They will be launching a news site that will give a quality score to the piece of news and offer supporting links alongside the story. They may also offer their technology to enterprise clients, and PR firms for a fee.
Although the amount of the investment has been kept private, the 25 year old founder, Dhruv Ghulati told Business Insider that he just sent a cold email to Cuban who agreed to invest.
“I was impressed by the team’s pedigree, technical talent, and sheer drive to solve this problem,” Cuban said in a statement.
Factama’s Chief Technology Officer, Robert Stojnic was formerly a developer with Wikipedia. The other two co-founders of the startup, Sebastian Riedel and Andreas Vlachos are machine learning specialists from UCL.
Along with Cuban, Zynga founder Mark Pincus and Sunil Paul, the founder of Brightmail, a spam filtering company acquired by Symantec, also invested in the company’s seed round.
You can sign up for updates on Factama here at factama.com