Codebase Ventures Subsidiary to Provide Unique Source of Data to Help Enterprise Clients Identify Misinformation Before it Spreads Online
Codebase Ventures Inc. (OTCQB: BKLLF) (CSE: CODE) (FSE: C5B) announces its wholly owned subsidiary, Pressland (pressland.com), has released plans to build a first-of-its-kind data management platform (DMP) to help fight fake news.
“We’re building an enterprise service for global media companies, social media networks and other third parties fighting the spread of misinformation online,” said Jeff Koyen, Codebase’s Chief Strategy Officer. “This is a highly scalable, disruptive technology that will serve the public interest by stopping the spread of fake news.”
The Brooklyn-based company is using artificial intelligence (AI) and natural language processing (NLP) to analyze around-the-clock global news output. This proprietary process (currently in alpha) will yield a vast, unique data source that can be used to identify misinformation before it spreads online.
Pressland’s commercial licenses will serve everyone fighting fake news — from international tech companies to local news outlets.
“We’re thrilled to have recognized Pressland’s globally disruptive potential at the earliest stage,” said George Tsafalas, Codebase’s CEO. “Our investment in time and capital are proving to be well-spent, and we expect Pressland to far exceed our expectations when it comes to market this year.”
Planned revenue streams include enterprise-grade data licensing, paid tools for media professionals, subscription fees and trade intelligence services. An additional application layer will provide commercial resources for third-party developers building their own products to fight fake news.
Pressland is led by Codebase’s Jeff Koyen, a seasoned media executive, entrepreneur and technologist who has worked at Forbes, Dow Jones, Digiday and Travel + Leisure. His team includes engineers, journalists and advisors who have worked at the world’s largest tech, media and marketing companies, including Google, BBC News, the Pulitzer Center, CNN, Bloomberg, Casper, McCann, Viacom and The Washington Post. Pressland’s CTO, Nicholas Zaillian, is assembling a team of top AI and NLP experts based in New York, Israel and Mountain View, CA.
The Company estimates it will cost up to USD $1 million for engineering and development costs for the platform over the next two years.
About Codebase Ventures Inc.
Codebase Ventures Inc. is a small, hands-on team of financial and technology experts who invest early in great ideas. We operate from the understanding that technology is always evolving, bringing early opportunities for strategic investments that can deliver the exponential returns to our shareholders. We seek out and empower the innovators who are building tomorrow’s standards with platforms and protocols, not just products. We invest early, support our founders, take their ideas to market and work tirelessly to help them realize their vision.