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Codebase Ventures’ wholly owned subsidiary Pressland announces data management platform for defeating fake news

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This proprietary process, currently in alpha, will yield a vast, unique data source that can be used to identify misinformation before it spreads online.

Additional Information:

Company: Codebase Ventures
Website: http://www.codebase.ventures
Stock Symbol: CSE: CODE
Date Published: Mar 27, 2019
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for InvestmentPitch Media

Codebase Ventures’ wholly owned subsidiary, Pressland, has released plans to build a first-of-its-kind data management platform to help fight fake news.

Brooklyn-based Pressland is using artificial intelligence and natural language processing 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.

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.

Jeff Koyen, Chief Strategy Officer, stated: “We’re building an enterprise service for global media companies, social media networks and other third parties fighting the spread of misinformation online. This is a highly scalable, disruptive technology that will serve the public interest by stopping the spread of fake news.”

Pressland’s CTO, Nicholas Zaillian, is assembling a team of top artificial intelligence and natural language processing experts based in New York, Israel and Mountain View, California.

The company estimates it will cost up to US$1 million for engineering and development costs for the platform over the next two years.

Planned revenue streams include enterprise-grade data licensing, paid tools for media professionals, subscription fees and trade intelligence services.

George Tsafalas, CEO, stated: “We’re thrilled to have recognized Pressland’s globally disruptive potential at the earliest stage. 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.”

Brian Keane, Director, added: “Codebase Ventures 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.”

The shares are trading at $0.045.

For more information please visit the company’s website www.codebase.ventures, contact investor relations at 778-806-5150 or email ir@codebase.ventures.

Samantha Deutscher for InvestmentPitch Media