Scape Technologies, the London-based computer vision startup, has been acquired by Facebook

Scape Technologies, the London-based computer vision startup, has been acquired by Facebook
  • Scape Technologies, the London-based computer vision startup working on location accuracy beyond the capabilities of GPS, has been acquired by Facebook, according to a regulatory filing.
  • Full terms of the deal remain as yet unknown, although a Companies House update reveals that Facebook Inc. now has majority control of the company (more than 75%).
  • However by looking at other filings, including a recent share issue, I understand the price could be about $40 million.
  • Founded in 2017, Scape Technologies was developing a “Visual Positioning Service” based on computer vision which lets developers build apps that require location accuracy far beyond the capabilities of GPS alone.

I'm getting flashbacks to the 2000's when Jobs and Apple foresaw a world where smartphones would overtake traditional computing. It seems like both Zuckerberg (FB) and Spiegel (Snap) sense a similar opportunity with AR… Show more