Company’s Proprietary AI-Based Marketplace Platform Drives Buyer-Seller Transactions, Increases Revenue for Marketplaces
Kahuna, the award-winning AI-based marketing technology company, launched the first-ever suite of buyer and seller tools tailored exclusively for marketplace businesses. Kahuna’s SaaS for Marketplaces leverages a proprietary AI-based engagement platform to drive marketplace vibrancy, seller optimization and buyer marketing. It is available as part of the broader open ecosystem with partners such as Oracle/Responsys and Magento.
According to Forrester, nearly 50 percent of all online consumer spending is done via a marketplace. Marketplaces are more complex than the typical retail business model due to a large number of different buyers and sellers, varying forms of market liquidity models, and the inherent trust issues between buyers and sellers, requiring a fundamentally new software approach.
“Over 20 years ago we saw manufacturing-focused enterprise software emerge with ERP and Supply Chain as core offerings. Today the most modern form of commerce is not manufacturer or warehouse to a consumer but rather, millions of sellers to millions of buyers, represented by marketplaces in almost every category, amounting to more than $500 billion in commerce. Kahuna has built a modern operating system for this underserved but fastest growing segment of e-commerce by providing technology to connect the right sellers with the right buyers and to get the flywheel constantly moving to generate liquidity. No other platform is intently focused on serving this market,” said Sameer Patel, Chief Executive Officer, Kahuna.
Kahuna’s platform uses artificial intelligence to help marketplaces solve challenges such as reducing cognitive overload for buyers, optimizing message copy and subject lines, minimizing shopping cart abandonment, triggering real-time action to close transactions, keeping buyers and sellers negotiating, facilitating paid placement and promotions, accelerating purchase frequency and order values, optimizing buyer to seller ratios, and determining the best communication, device, channel and time that drives liquidity.
Kahuna has co-developed this solution with our existing marketplace customers and already counts some of the most prominent regional marketplaces in the world as customers:
- TickPick: North American online ticketing marketplace
- Carousel: the number one shopping marketplace in Singapore, Taiwan, Hong Kong and Australia
- Mudah: the number one marketplace in Malaysia
- Restorando: the number one marketplace in Argentina
- FastJobs: the number one marketplace in the Philippines for non-executive jobs
“Kahuna’s AI optimizations have directly resulted in a 29 percent increase in conversion campaign revenue, and with 332 conversion campaigns run with Kahuna in the past year, TickPick has reaped major bottom-line impact many times over by leveraging Kahuna’s marketplace technology,” said Brett Goldberg, CEO, TickPick.
The company also welcomes back its co-founder, Jacob Taylor, who has been instrumental in building Kahuna’s underlying data platform and artificial intelligence capabilities that have scaled to serve over a billion users a day. Taylor has a distinguished career leading Silicon Valley-based companies, having previously co-founded SugarCRM, and built highly scalable platforms at Octane Software and Epiphany.
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