Online payment giant PayPal announced that it has acquired Jetlore, an AI-powered prediction platform for some of the world’s top retailers.
Headquartered in San Mateo, California, 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, PayPal will enhance and accelerate PayPal Marketing Solutions, adding new capabilities that continue to expand PayPal’s value proposition for merchants.