EBay acquires recommendation platform Hunch
Hoff said Hunch's technology, which personalizes recommendations based on consumers' interests, is “well suited” to eBay's expanding focus on “more relevant recommendations and better ways to merchandise inventory to customers.”
“We believe eBay's insights into commerce and online shopping, coupled with Hunch's ability to identify relevant tastes and interests, will lead to more relevant merchandising and customized recommendations for customers on eBay,” said Hoff.
Uncrunched first reported news of the acquisition on Nov. 21. Hoff declined to confirm whether reports pegging the acquisition's price at roughly $80 million were accurate.
“Hunch's technology can help sellers understand the demographics, psychographics, and preferences of their browsers, bidders, and buyers,” Hoff said. “These actionable insights are innovations that will help sellers refine and optimize their messaging, product offerings, and promotion strategies to maximize their sales potential.”
EBay said in a company statement that the acquisition will also be applied to “search, advertising and marketing initiatives” as a means to tailor search and product results to consumers' preferences.
All Hunch employees are being retained and will continue to work out of the company's New York offices, eBay said.