Image-based social media site Pinterest has acquired Kosei, a US-based targeting and recommendation tech company, for an undisclosed sum, as it looks to further develop its own advertising proposition.
Kosei's technology analyses customers' browsing and purchasing history to predict what they may want to buy next. The firm was founded by CEO Lance Reidel - fomerly CTO of big data firm The Hive - and Stanford computer science assistant professor Jure Leskovec, and raised a round of seed funding in June 2014. The two co-founders, and most of the rest of Kosei's ten-person team will join Pinterest.
Pinterest's Head of Engineering Michael Lopp said in an engineering blog: 'With the addition of the Kosei team, we can supercharge our existing graph to help brands reach people at the right moments, and improve content for Pinners.'
Web site: www.pinterest.com and www.kosei.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.