Paytm acquires consumer behaviour prediction app Shifu

Paytm has recently acquired a Delhi-based consumer behaviour prediction platform called Shifu. It is an $8 million deal from which Paytm aims to enhance consumer experience on its platform.
Paytm

Online payment turned eCommerce portal Paytm has recently acquired a Delhi-based consumer behaviour prediction platform called Shifu. It is an $8 million deal from which Paytm aims to enhance consumer experience on its platform.
"Shifu's data and tools to predict consumer preferences and behaviour are very useful for a company like ours. We can serve a consumer in a more personalized and intimate way," said Kiran Vasi Reddy, Senior VP- Business, Paytm.
Shifu was founded back in 2012 by three exuberant technology geeks – Prashant Singh, Deepansh Jain and Michael Massey who will now join Paytm along with its 20-member team.
Some time back, the startup has raised a seed funding from a clutch of angel investors and some tech entrepreneurs in Delhi.
Shifu mines a person's smartphone usage data, location, time and other elements to come up with personalized predictions and relevant suggestions. "Consumers are happy when they get customized service. It will also help Paytm to strategize better," Reddy said.
The Alibaba-backed is running high on its expansion spree in line with its plans to invest around $150 million in top emerging companies in order to strengthen its digital horizon. It has plans to acquire at least 10-12 startups with this fund.
"Ventures in O2O (offline-to-online) and last-mile delivery, and platforms that can solve consumer problems are on our radar," Reddy said.
Among some of Paytm’s recent acquisitions are startups like Near.in (a local services marketplace), LogiNext (a logistics firm), Jugnoo (a hyperlocal transportation app) and Little, (a discovery platform for lifestyle consumers and sales channel for merchants).

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