Facebook acquires Confirm Inc. to confirm user identities
Date: 2018-01-24   Author: Dhananjay Punekar  Category: #market

Facebook acquires Confirm Inc. to confirm user identities

Social media giant Facebook has decided to purchase Confirm Inc., a Boston based software firm with expertise in verifying I-cards issued by the government authorities. Sources claim that FB’s strategic decision can help the company gain a better understanding about customers purchasing ads on its site. Some of the key officials of Facebook have stated that the technology of the acquired software firm will help the company protect the privacy of its end-user community. It has also been reported that the latter will close its operations with its employees joining Facebook in Boston.

Earlier, the U.S. judiciary had raised concerns over Facebook’s reduced ability to gain comprehensive information about the consumers who purchased ads on its site that also encompassed election-related advertisements. Social media experts have stated that the acquisition will help Facebook in its pursuit to track information about the customers buying ads on its site. The social media organization has reportedly stated that it will make it mandatory for the firms running election-related ads on the site to authenticate their credentials.

Sources claim that over 6 million advertisers post their ads on the Facebook page, and purchasing ads on the social networking site only requires a little more than a credit card & Facebook account. But the acquisition of Confirm Inc., will apparently help the firm deploy the software on its site. Experts state that this specific software, which asks for ID proof for eCommerce transactions, will allow Facebook users to know whether the organization they are dealing with is genuine or fake.

Industry analysts believe that the move will encourage other social media organizations to follow suit ensuring protection of the user’s data and bringing down the number of fake business transactions that are currently rampant across the social networking space.



About Author


Dhananjay Punekar

Dhananjay Punekar

Dhananjay currently works as a content writer at AlgosOnline. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted fo...

Read More

More from Dhananjay


Post Recommendents

IT giant Cognizant acquires Dublin-based fintech firm Meritsoft
Author: Ojaswita Kutepatil

The company with this acquisition will leverage Meritsoft’s know-how to help clients transform business for the digital era.

American IT conglomerate, Cogni...


Hops material segment of Non-Alcoholic Wine and Beer Market will witness CAGR over 8% by 2024
Author: Rahul Sankrityayan

Shifting consumer preferences towards healthier alternatives is among the key factor propelling the non-alcoholic wine and beer market size. Factors such as religious restrictions, rising consumer spending across developing countries along with fa...


Matcha market from personal care & cosmetic application will witness 3.5% by 2024
Author: Rahul Sankrityayan

Rising consumption rates along with increasing health awareness of nutritious food & beverages will propel matcha demand. This rise in demand can be attributed to its nutritional benefits, unique flavor and texture along with its extreme versa...