PayPal has acquired Jetlore, an ecommerce service that helps retailers offer personalized search results using “Predictive Ranking,” which matches each customer’s unique preferences directly to inventory in real time.
The acquisition is an effort to grow PayPal Marketing Solutions, which takes PayPal beyond payments and checkout and into marketing services.
As PayPal announced, “With Jetlore’s talent and AI-powered technology, we will enhance and accelerate PayPal Marketing Solutions, adding new capabilities that continue to expand PayPal’s value proposition for merchants beyond the online checkout experience.”
As part of our continued commitment to provide merchants and consumers with more personalized commerce experiences, I am pleased to announce that PayPal has acquired Jetlore, an AI-powered prediction platform for some of the world’s top retailers.
Headquartered in San Mateo, Calif., Jetlore was founded in 2011 by Ph.D. students from Stanford University’s computer science program with the goal of applying the power of machine learning to the retail market. Jetlore’s proprietary prediction platform empowers global online retailers such as Uniqlo and Nordstrom Rack to deliver personalized customer experiences to increase sales and loyalty. The company is led by many pioneers in retail AI, including Eldar Sadikov, Montse Medina and Sergey Andreev, who will join PayPal.
With Jetlore’s talent and AI-powered technology, we will enhance and accelerate PayPal Marketing Solutions, adding new capabilities that continue to expand PayPal’s value proposition for merchants beyond the online checkout experience. We share Jetlore’s passion for creating amazing – and personalized – customer experiences and believe their capabilities will accelerate our ability to help merchants optimize content and communication for their customers.
Welcome to PayPal, Jetlore team and customers. Together, we’ll continue to help merchants develop even more meaningful customer relationships.
See full announcement for PayPal’s Customary Statement Regarding Forward-Looking Information.
SOURCE: PayPal Announcement