Digital IP Management Company Source3 Acquired by Facebook

Share this Article

Our global overlords at Facebook recently acquired the New York-based IP rights management startup Source3 in an effort to expand their efforts to monetize the massive social media platform. As Facebook looks to attract independent content creators to compete with Snapchat and YouTube they are looking to circumvent many of the rights issues that continue to plague the industry. In order to convince top tier talent to choose Facebook, the company needs to prove that it can protect individual creators’ rights without exposing themselves to the legal battles that inevitably find online media networks.

The Source3 technology will likely be used to enhance and support Facebook’s ability to identify and flag content that is using copyright protected content without permission. Copyright holders will now have the option to monetize the offending content rather than have it removed. Facebook will also likely begin offering user-generated content creators the option to quickly and easily obtain licenses for copyrighted intellectual properties. With Facebook taking a small slice of the pie of course.

Source3 founders Patrick F. Sullivan, Benjamin Cockerham and Scott Sellwood sold their music IP-focused management startup RightsFlow to Google back in 2011. They then turned their attention to Source3 which would focus on the growing 3D model and content marketplace. They leveraged an impressive team of Google and 3D Systems alumni to streamline and simplify the licensing process, allowing IP owners to opt into open-ended licensing deals that wouldn’t require endless contracts and negotiations. After launching in 2015 and raising $4 million in venture capital funding the company expanded beyond 3D content into a wide variety of markets, including music, entertainment, sports and fashion. It was likely this track record that attracted Facebook to the startup, which announced the acquisition on their website:

“Today, we wanted to let everyone know that we’ve decided to continue our journey with Facebook. We’re excited to bring our IP, trademark and copyright expertise to the team at Facebook and serve their global community of two billion people, who consume content, music, videos and other IP every day.”

Given Facebook’s surging interest in moving beyond social media and becoming an original content hub the need for IP rights management is quickly becoming a growing focus. While Facebook launched their Rights Manager software almost two years ago, results have been less than impressive. They continue to struggle to convince people to choose Facebook over other options like YouTube, despite being willing to pay television networks, movie studios and publishers for original content. However now that Facebook Live has started to become popular the site would like to be able to quickly identify and monetize copyrighted intellectual properties before it goes viral and exhausts its impressions.

Source3 is expected to remain based in New York, but they will be a fully operational arm of Facebook not a standalone company and they are expected to retain their current staff. It’s unclear if Facebook will use the experience of Source3’s existing staff to begin offering downloadable, and licensable, 3D content or if they were simply interested in the software. However it isn’t hard to imagine Facebook offering the designers of 3D printable content the ability to sell and distribute their work directly through their personal profiles rather than requiring people to visit an off-site marketplace. Discuss in the Source3 forum at 3DPB.com.

 

Share this Article


Recent News

PEAK Launches Alien Beast 3D Printed Shoes for Limited Sale

Arevo Announces New Aqua 2 Carbon Fiber 3D Printer, $25M in Series B Funding



Categories

3D Design

3D Printed Art

3D printed automobiles

3D Printed Food


You May Also Like

Nexa3D Acquires NXT Factory, Introduces Eco-Friendly 3D Printing Washing Solvent

While Nexa3D may specialize in manufacturing super-fast stereolithography 3D printers, the company has been branching out recently, and narrowing its focus on the materials side of things. It launched the...

Featured

DyeMansion Secures Additional $14M in Series B Funding from New & Existing Investors

German company DyeMansion is known for its coloring and post-processing equipment, such as its three-step Print-to-Product workflow geared toward industrial 3D printing environments. Now, in order to continue transforming and...

T3D Announces New LCD-Based High-Speed 3D Printing System

Taiwan 3D Tech, also known as T3D, is a startup spin-off from the National Taiwan University of Science and Technology (NTUST). Headquartered in Taipei, the company was officially founded in...

3DPOD Episode 32: Tuan TranPham, Arevo

Tuan is known universally by his first name alone. Like Madonna and Beyonce, everyone knows hi by just that one name. In Tuan’s case his fame is 3D printing specific...


Shop

View our broad assortment of in house and third party products.