Content moderation leader Besedo merges with ioSquare to offer unrivaled, best-of-breed solution
Stockholm-based Besedo, a leader in User-Generated Content (UGC) moderation has merged with ioSquare, a French startup company specialized in automated content moderation. The agreement is a cash-and-share deal that sees ioSquare, valued at €5 million, take a stake in Besedo, making the joint entity a global market leader.
The merger will fuel marketplaces with a best-of-breed solution that is both highly accurate and cost-effective. Combining Besedo’s human moderation services and ioSquare’s cutting-edge automation technology, makes the merger truly unique.
The solution will also plug a gap customers have been crying out for as Maxence Bernard, ioSquare CEO explains: “No solution currently addresses the full spectrum of content moderation needs. We see in-house platforms or stopgap solutions that only address part of the problem."
“We are now able to offer a fully-integrated, ready-to-use platform, where human and artificial intelligence complement each other to keep scams, counterfeits and abusive content off the Internet. The combination of state-of-the-art deep learning technology and skilled manual workforce will allow us to reach new levels of accuracy and efficiency and will place us right at the heart of the content moderation tools and services ecosystem.”
“The market is moving quickly and we see real opportunities for rapid growth,” said Patrik Frisk, Besedo CEO. “The baseline expectation is that the deal will see us double in size in three years in terms of revenue, from 2016’s expected €17 million. However, more importantly we are expecting hypergrowth in the data we process, potentially as high as ten times the current volumes.”
Growth will be supported by the expected boom of the sharing economy over coming years. There will be opportunities to add new technology and services in the future Frisk explains: “Initially we will offer a solution focusing on text and images, however, we are already looking at adding video and virtual reality in the coming future and also expand into social media and e-commerce. The opportunities are huge. This merger will allow the new company to truly innovate and lead the market.”
Post merger, new offices are planned for Asia and the US, adding to existing offices in Sweden, Colombia, Malaysia, Malta, Romania and France.
Andrew Chatterton, +44 7855 524 981
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