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Payments solutions provider Paytm, run by One97 Communications Pvt. Ltd, has acquired consumer behaviour prediction and recommendation platform Shifu for $8 million, the company said on Monday.
Delhi-based Shifu, run by Signal Inc., started operations in August 2012. It mines the smartphone usage patterns of users and makes personalised recommendations to them. The 20-member team at Shifu, including founders Prashant Singh, Deepansh Jain and Michael Massey, will join Paytm.
“Shifu has been quite popular as an intelligent task-managing application. By integrating their technology and behavioural modelling with Paytm app, we will be able to offer a highly intuitive and personalized experience to our users,” said Kiran Vasireddy, senior vice-president at Paytm. “This acquisition will give further impetus to our focus on Artificial intelligence…. By predicting user behaviour based on past usage, location and other data points, our platform will be able to offer relevant recommendations to our users.”
Paytm acquires Shifu for $8 million - Livemint
Delhi-based Shifu, run by Signal Inc., started operations in August 2012. It mines the smartphone usage patterns of users and makes personalised recommendations to them. The 20-member team at Shifu, including founders Prashant Singh, Deepansh Jain and Michael Massey, will join Paytm.
“Shifu has been quite popular as an intelligent task-managing application. By integrating their technology and behavioural modelling with Paytm app, we will be able to offer a highly intuitive and personalized experience to our users,” said Kiran Vasireddy, senior vice-president at Paytm. “This acquisition will give further impetus to our focus on Artificial intelligence…. By predicting user behaviour based on past usage, location and other data points, our platform will be able to offer relevant recommendations to our users.”
Paytm acquires Shifu for $8 million - Livemint
