Business

PayPal buys young startup Iron Pearl to help it acquire more users

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Payments giant PayPal has acquired Palo Alto startup Iron Pearl to help it grow past 123 million customers, the company announced today in a blog post.

Iron Pearl offered customer acquisition and engagement software to help companies understand the best ways to grow using predictive modeling. Ideally, that skill set will now go toward helping PayPal grow its user base.

PayPal president David Marcus writes:

More than 5 million people joined PayPal in the last three months of 2012—the most in a quarter in over 8 years. We now serve more than 123 million active PayPal customers around the world.

But we can do more. And grow faster. That’s why I’m thrilled to announce that we just acquired Iron Pearl, a Palo Alto startup that is at the forefront of the science of customer acquisition and engagement. Iron Pearl has developed groundbreaking tools, methodologies and intellectual property, built on a new understanding of the social and cultural factors that drive the viral spread of products, combined with new approaches to data analysis and predictive modeling.

Iron Pearl founders Stan Chudnovsky and James Currier will take on roles at PayPal. Chudnovsky will take on the role of Vice President of Growth, while Currier will serve as a “Growth Advisor” to the business.

The terms of the deal were not disclosed.

PayPal photo via Devindra Hardawar/VentureBeat


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