The company announced that the transaction was done through its new fund, MoMo Innovation Ventures. MoMo is backed by global investors such as Warburg Pincus and Goodwater Capital.
MoMo informed that it bought all of Pique’s intellectual property and hired its data science and engineering team. Pique was established in 2016, and develops AI-enabled recommendation services for businesses.
Prior to being acquired by MoMo, Pique worked with clients seeking to increase the number of visitors searching for their products and to boost the purchase rate and order value via appropriate product recommendations. The acquisition is expected to help MoMo better personalise its products and services based on each user’s needs.
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