Gap Inc. Acquires AI Startup CB4

Gap Inc. has acquired the New York and Tel Aviv based start-up Context-Based 4 Casting Ltd. (CB4) that uses cutting-edge AI and machine learning tools to transform retail operations, increase sales and improve the customer experience through predictive analytics and demand sensing.

“We believe artificial intelligence and machine learning will shape the future of our industry. Gap Inc. has experience working with CB4’s world-class data scientists, so we understand the impact and the wide applications their science can have across sales, inventory and consumer insights, as well as its potential to unlock value and enhance the customer experience,” said Sally Gilligan, Chief Growth Transformation Officer Chief, and head of the Strategic Growth Office at Gap Inc.

The deal was brokered by Gap Inc.’s Strategic Growth Office, a unit of the company that seeks out opportunities to fuel growth and accelerate new capabilities across its portfolio of brands.

CB4’s award-winning technology makes recommendations that support new sales and more satisfied customers. Funded by investors including Sequoia Capital, CB4’s technology has been implemented by retailers including Levi’s, Urban Outfitters, Lidl, and Kum & Go.

In February of 2021, market research firm CB Insights named CB4 to its inaugural Retail Tech 100 ranking, which showcases the 100 most promising B2B retail tech companies in the world.

As part of the acquisition, CB4’s team will join Gap Inc. as full-time employees.

CB4 CEO Yoni Benshaul commented, “CB4’s AI helps lift sales and enhance customer experiences. As we join Gap Inc., I’m excited to see how our team can drive even broader and deeper impact at the company’s global scale.”

Since moving to the cloud in October 2020, Gap Inc. has increased investments in technology to enable growth and innovation that can impact its entire portfolio of brands.

Earlier this year, the Strategic Growth Office led Gap Inc.’s acquisition of Drapr, an e-commerce startup that powers 3D-fit technology and virtual fitting rooms to reduce online returns, and also participated in the latest funding round for obé fitness, a digital fitness platform that partners with Gap Inc.’s Athleta Brand to bring entertainment, pop culture and design to fitness.
https://www.gapinc.com/en-us/articles/2021/10/gap-inc-acquires-ai-startup-cb4

Related Posts

HH Global commended for helping Co-op and Nisa achieve their sustainability goals

HH Global has once again been recognized for our efforts in enabling our clients to further their sustainability and ESG goals and lessen their impact on the planet. The Co-operative Group are one of the UK’s largest grocery retailers, and one of our top ten UK clients. Through using the latest technology and assessing the environmental viability of our procurement model, from suppliers to materials, we have been able to successfully innovate the Co-op and subsidiary company Nisa’s sustainability strategies across the board. In 2021, our changes to the production of Nisa’s main marketing leaflet have prevented 175 tonnes of paper from going to waste. We have also standardized these leaflets, by producing them on the same FSC accredited paper used for their magazines and POS material. This means that the paper used across their major marketing channels has been harvested in a responsible and sustainable manner.

Publishers Join with Worldwide Coalition to Condemn the Theft of Creative and Intellectual Authorship by Tech Companies for Generative AI Training

The Association of American Publishers (AAP) joined forces with more than 10,000 creators and coalition partners, including authors, musicians, actors, artists, and photographers, to condemn the theft of creative and intellectual authorship by big tech companies for use in their Generative AI models. In fact, these consumer-facing models and tools would not exist without the books, newspapers, songs, performances, and other invaluable human expressions that were—and continue to be—copied, ingested, and regenerated in blatant disregard of the law. This is a crucial time for AI policy development globally, as authors and their publishers call on their governments and courts to uphold the most fundamental of copyright principles: Reproducing works of authorship, and creating derivatives of them, requires the clear consent of those who created, invested in, and otherwise made them possible in the first place. “The Association of American Publishers is proud to stand with thousands of creators and partner organizations to highlight that human authorship is the basis of Generative AI,” said Maria A. Pallante, President and CEO. “What is true is that creators operate in service to a well-read, informed, and inspired global public, not the unsanctioned, unregulated profits of big tech companies. It goes without saying that technology collaborations are a key part of publishing, but they are built on lawful licenses and respect, not a land grab.”

Adobe Reports Record Revenue in Q1 Fiscal 2022

First Quarter Fiscal Year 2022 Financial Highlights *Adobe achieved record revenue of $4.26 billion in its first quarter of fiscal year 2022, which represents 9 percent year-over-year growth or 17 percent adjusted year-over-year growth1. Diluted earnings per share was $2.66 on a GAAP basis and $3.37 on a non-GAAP basis. *GAAP operating income in the first quarter was $1.58 billion, and non-GAAP operating income was $1.99 billion. GAAP net income was $1.27 billion, and non-GAAP net income was $1.60 billion. *Cash flows from operations were $1.77 billion. *Adobe repurchased approximately 3.8 million shares during the quarter.
Back To Top
×Close search
Search