Facebook acquires Confirm.io – an ID verification startup.


Facebook Inc is acquiring Boston based software company – Cofirm.io which specializes in authenticating government-issued identification cards, the two companies said on Tuesday. The software helps to understand more about who purchases the ads on its network.

Recently the US. lawmakers expressed their fear on Facebook’s limited source to track its advertisement buyers. Social media advertisements influence the election-related campaigns in a huge way.

Confirm.io, a Boston based privately held company shared this news through their official website. The acquisition will take three years to integrate this technology with Facebook to keep its users safe.

Facebook through its official website confirms “technology and expertise will support our ongoing efforts to keep our community safe.”

As per the report shared by Reuters, Confirm Inc employees will continue their operations from Facebook Boston office. Terms and conditions of this acquisition are yet to be revealed.

Facebook has earlier suspected Russian agents had been paying to influence the electorate during 2016 presidential election. As a precaution to these activities, Facebook has decided to have more hold on its advertisement buyer’s identity.

The company later said it would begin requiring organizations running election-related ads to confirm their identities.

With a Facebook page and credit card, an advertiser can purchase the ads as per his wish. The social media giant has more than 6 million advertisers all over the world.

Confirm.io says that its technology will ask for proof of identity for online transactions made by the users which could bring down fraudulent activities.

Source: Reuters

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News Release India

News Release India

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