Facebook acquires startup Source3 to combat pirated content
Facebook has acquired the intellectual property (IP) management firm Source3, the companies confirmed Monday. The terms of the deal were not disclosed.
The New York-based startup, launched in 2014 with a focus on 3D content, provides an end-to-end platform for content creators to manage online IP and establish brand relationships.
"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," the Source3 founders announced on their website.
Source3 will be fully integrated into Facebook, Recode reports, and won't operate as a standalone company.
As part of its efforts to take "video first" approach on its social network, Facebook last year started investing more in original video content.
"We're looking for ways to grow the ecosystem of video content on Facebook," CEO Mark Zuckerberg said in February of this year, during an earnings conference call. "We want people to think of Facebook as a place for interesting and relevant video content, from professional creators as well as their friends."
The company has already taken steps to protect content -- last year, it introduced Rights Manager, a set of admin and workflow tools that help publishers and creators manage and protect video content on Facebook at scale. Acquiring Source3 builds on those efforts.
"We're excited to work with the Source3 team and learn from the expertise they've built in brand intellectual property, trademarks and copyright," a Facebook spokesperson said in a statement to ZDNet. "As always, we are focused on ensuring we serve our partners well."
Facebook has rolled out other features that cater to content creators, such as tools to track video metrics.