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.
Customary Statement Regarding Forward-Looking Information
This announcement contains “forward-looking” statements within the meaning of applicable securities laws. Forward-looking statements and information relate to future events and future performance and reflect PayPal’s expectations regarding the impact of this transaction on PayPal’s financial and operating results and business and the operation and management of Jetlore after the acquisition. Forward-looking statements may be identified by words such as “seek”, “believe”, “plan”, “estimate”, “anticipate”, expect”, “intend”, and statements that an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and any other similar expressions.
Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from the statements made, and, accordingly, readers should not place undue reliance on forward-looking statements and information. Factors that could cause or contribute to such differences include, but are not limited to, the reaction to the transaction of Jetlore’s customers and business partners, the reaction of competitors to the transaction, the retention of Jetlore employees, PayPal’s plans for Jetlore, the future growth of PayPal’s business and the possibility that integration following the transaction may be more difficult than expected. More information about these and other factors can be found in PayPal Holdings, Inc.’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (the “SEC”), and its future filings with the SEC.
PayPal expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.