Top News

Paytm acquires consumer behavior prediction app Shifu

Digital payments and commerce company Paytm
has acquired Shifu, a consumer behavior prediction platform, for an undisclosed
amount, reported the Economic Times.

The report pegs the deal at around $8
million. Post acquisition, Shifu’s team of 20 along with its 3 co-founders will
join Paytm, where they will be responsible for bettering consumer experience.

According to Paytm, Shifu’s data and
prediction tools for preferences and behavior will help it offer personalized
services.

Digital payments and commerce company Paytm
has acquired Shifu, a consumer behavior prediction platform, for an undisclosed
amount, reported the Economic Times.

The report pegs the deal at around $8
million. Post acquisition, Shifu’s team of 20 along with its 3 co-founders will
join Paytm, where they will be responsible for bettering consumer experience.

According to Paytm, Shifu’s data and
prediction tools for preferences and behavior will help it offer personalized
services.

Shifu offers a ‘smart’ to-do list manager
app, with features like call forecast based on location, battery alerts, Wi-Fi
based alerts, missed call alerts and app suggestion. The app essentially picks
up cues from user behaviour to make recommendations based on usage history to
display relevant apps, contacts and other information in the notification bar.

Shifu was founded by Prashant Singh,
Deepansh Jain and Michael Massey back in June 2013, and was even recommended by
Lifehacker the same year as the smartest
to-do app around.

In December, Paytm acquired Gurgaon-based
services marketplace Near.in for $2 million. Near.in co-founders Lomesh Dutta
and Suni Goyal would join Paytm as vice-presidents, while its early investors
would exit the company, according to a report in Medianama.

Paytm has been aggressively investing in
the online-to-offline services space. It invested an undisclosed amount in the
hyperlocal delivery and auto rickshaw hailing app Jugnoo in November, and had
participated in a $50-million funding round for establishing an online-to-offline,
app-only marketplace called Little in July.

 

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close