Facebook absorbs London based tech start-up
The social media giant just acquired Scape Technologies, a for a cool $40 million. New social media platforms are showing up frequently and Facebook is working to stay current with new technology.
Facebook reportedly acquired Scape Technologies in an effort to advance the social media giant further into the social space. TechCrunch first got wind of the deal by looking at the company’s regulatory filing.
Companies House revealed that the social media platform now owns over 75% of Scape Technologies’ share. The same filings also show that Scape’s previous capital representatives are now replaced by two Facebook executives.
Facebook has since stated, “We acquire smaller tech companies from time to time. We don’t always discuss our plans.”Analysts have concluded that this is a great investment for the company for the next generation’s platforms including Virtual Reality and Augmented Reality.
What is Scape Technologies?
Scape Technologies is both an AR and a mapping startup company. It was founded in 2017 and its goal is to create hyper-accurate locations all powered by computer vision. They are using AI technology to use camera devices in recognizing the environment, regardless if it’s indoors or outdoors. The idea is promising especially for the next-generation and it includes wearables and other devices.
Scape built 3D renderings of the world with location precision without the aid of GPS, cell-tower triangulation, and IP targeting. In its site, it explained that its technology is able to provide centimeter-level location recognition. The visual-positioning service turns into 3D maps of entire cities. It now has a 3D city map of London and more to follow.
This was unheard of until Space Technologies came into frame. Scape’s creation could play a huge role to support apps in robotics, logistics, and mobility.
What does this mean for you?
Scape Technologie’s 3D mapping has several applications. It can locate AR content in its precise location and building. AR will be revolutionary for digital gaming, architecture, education, tourism, entertainment, urban planning and many more.
Facebook may use this AR technology to extend its social media’s reach through AR or to improve its advertising platform in the future. Facebook has yet to reveal its plans on the matter.