Named Entity Recognition
Named-entity recognition (NER) (also known as (named) entity identification, entity chunking, and entity extraction) is a subtask of information extraction that seeks to locate and classify named entities mentioned in unstructured text into pre-defined categories such as person names, organizations, locations, medical codes, time expressions, quantities, monetary values, percentages, etc.
In the expression named entity, the word named restricts the task to those entities for which one or many strings, such as words or phrases, stands (fairly) consistently for some referent. For instance, the automotive company created by Henry Ford in 1903 can be referred to as Ford or Ford Motor Company, although "Ford" can refer to many other entities as well. Wikipedia
TextBlob
Textblob is an easy to use library but it provides limited functionality. Textblob's named entity recognition comes in the form of doing part of speach tagging and identifying "noun phrases"
SpaCy
SpaCy is a more sophiticated library and provided dedicated named entity recogition functionality and allows uers to augment the default functionality. Its NER functionality tries to both identify named entities and classify them into one of several categories.