Payments

10:35 AM
Connect Directly
Facebook
Twitter
Google+
RSS
E-Mail
50%
50%

PayPal Targets Customer Acquisition With Purchase of Start-Up Iron Pearl

PayPal has acquired Iron Pearl, a California-based start-up specializing in customer acquisition and engagement, and formed a new growth team to expand its customer base.

PayPal had record growth at the end of 2012, with more than 5 million new users joining in the last quarter of the year, David Marcus, PayPal’s president, wrote on the company’s blog yesterday. The company is further investing in expanding its customer base with a new acquisition that Marcus announced in his blog post. The company is acquiring Iron Pearl, a start-up that is focused on customer acquisition and engagement, according to Marcus’ blog post.

[See Related: PayPal Introduces Mobile Point of Sale Solution For iPad]

Iron Pearl has built its tools and methodologies by using data analyiss and predictive modeling to grasp the social and cultural factors that boost the spread of new products, Marcus wrote. Iron Pearl’s co-founders Stan Chudnovsky and James Currier will take up executive positions within PayPal’s new growth team that will aim to increase the company’s customer base by using Iron Pearl’s tools and methods of data analysis.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology Oct. 14, 2014
Bank Systems & Technology's new Must Reads is a compendium of our best recent coverage of customer analytics. Learn what big data means for banks, meet Wells Fargo CDO Charles Thomas, find out how to connect with your Gen Y customers, and more.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.