The company revealed that it is currently evaluating the ramifications and costs of providing third-party fact-checking services.
Fact-checking organisation Snopes is parting ways with Facebook to scrutinise the content posted on the social network for truthfulness.
In the official statement, the company revealed that it is currently evaluating the ramifications and costs of providing third-party fact-checking services and that it wants to determine that its efforts to any platform are a net positive for its online community, publication, and staff.
Snopes, which started its online fact-checking since 1994, entered into a partnership with Facebook in 2016 to curb the issue of misinformation that is rampant on the platform. Initially, it was a volunteer-basis partnership but Facebook later decided to pay its third-party fact-checking organisations.
The company received USD 100,000 in 2017 from Facebook. The company admitted that by ending the partnership it will have less money to invest in its publication.