Facebook is buying a software firm that specialises in authenticating government-issued identification cards, the two companies said on January 23, a step that may help the social media company learn more about the people who buy ads on its network.
US lawmakers have expressed alarm at Facebook’s limited ability to know who is buying advertisements, including election-related ads, on the world’s largest social network.
Boston-based Confirm Inc, which is privately held, said on its website that the acquisition was the culmination of three years of work to build technology to keep people safe online.
Facebook said in a statement Confirm’s “technology and expertise will support our ongoing efforts to keep our community safe.”
Terms of the deal and how Facebook would apply Confirm’s software were not revealed.
In 2017, Facebook said that suspected Russian agents had been paying to boost Facebook posts in the United States in an attempt to divide the electorate around the 2016 presidential election. Moscow denies the allegations.
The company later said it would begin requiring organisations running election-related ads to confirm their identities.
Facebook has more than six million different advertisers, and buying ads has historically required little more than a Facebook page and a credit card.
Confirm says that its software allows for proof of identity for online transactions, allowing users to detect potentially fraudulent activity.
Moelis & Co and Goodwin Procter advised Confirm on the transaction. Hogan Lovells advised Facebook.
Source: VentureBeat
Facebook acquires ID verification startup Confirm.io added by Newsroom on
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