Our work aims at building probabilistic tools for constructing and maintaining large-scale knowledge bases containing entity-relationship-entity triples (statements) extracted from the Web. In order to mitigate the uncertainty inherent in information extraction and integration we propose leveraging the “wisdom of the crowds” by aggregating truth assessments that users provide about statements. The suggested method, CoBayes, operates on a collection of statements, a set of deduction rules (e.g. transitivity), a set of users, and a set of truth assessments of users about statements. We propose a joint probabilistic model of the truth values of statements and the expertise of users for assessing statements. The truth values of statements are interconnected through derivations based on the deduction rules. The correctness of a user’s assessment for a given statement is modeled by linear mappings from user descriptions and statement descriptions into a common latent knowledge space where the inner product between user and statement vectors determines the probability that the user assessment for that statement will be correct. Bayesian inference in this complex graphical model is performed using mixed variational and expectation propagation message passing. We demonstrate the viability of CoBayes in comparison to other approaches, on realworld datasets and user feedback collected from Amazon Mechanical Turk.