In a statement to Business Insider, Cuban said he invested in Factmata because he was “impressed by the team’s pedigree, technical talent, and sheer drive to solve this problem.”
“If we want to solve fake news, thinking about it at web scale via artificial intelligence and automation is the only way,” he said in the statement. “And being outside the media or fact checking world allows them to see the problem in a different way. Factmata is a group of entrepreneurs trying to solve a challenging problem with an amazing mission.”
Numerous companies, from tech giants like Google to startups like Factmata, are looking for creative approaches to stop the spread of rumors and misinformation. In late August, Facebook announced its latest step: blocking ads from Facebook pages that repeatedly share false stories.
Cuban is an active investor both on ABC’s reality show “Shark Tank” and off. He recently served as a judge at a Dallas tech event and has invested in Dallas startups, including fulfillment company Selery.