AI News, Nike buys an AI startup that predicts what consumers want ... artificial intelligence

Nike buys data analytics startup Celect to boost DTC sales

Nike's acquisition of Celect is the latest sign that the sports apparel giant seeks to boost DTC sales among a variety of distribution channels, including its mobile app and website.

Celect's tech can help Nike boost this strategy by optimizing its inventory across channels with hyper-localized demand predictions to ensure customers can find and purchase what they're most interested in.

The company in 2016 bought Virgin Mega, a digital design studio that helped to build Nike's SNKRS mobile app, which this year served as the basis for a pop-up store in Atlanta.

Meanwhile, Nike's direct sales rose 12% on a currency-neutral basis to $11.8 billion in fiscal 2019 to make up 32% of total brand revenue, far outpacing the 2% gain to wholesalers, per its annual report.

Nike buys an AI startup that predicts what consumers want

Nike’s market cap has swollen past $100 billion, but the shoe company still sees potential to learn more about what customers want and how to source and stock products to meet those needs.

The startup’s tech focuses on delivering data insights after being fed a bunch of structured and unstructured retail data.

These insights allow retailers to see cost/benefit analysis of arranging their inventory, something that might interest Nike, which banked $36.4 billion in revenue last year.

The Business Monthly

In addition to codifying the requirement that Community Advantage lenders make at least 60 percent of their loans to borrowers in underserved markets, the bill expands the geographic and demographic reach of SBA loans by broadening the categories of businesses that are able to receive CA loans to include women and business owners who are socially and economically disadvantaged, regardless of business location.

Together, these bills will open up opportunities for entrepreneurs in underserved communities, so they can pursue their dreams, build successful companies, create jobs and ensure SBA is coordinating and meeting the objectives of its diversity initiatives.” Traditional 7(a) loans provide entrepreneurs with up to $5 million in capital at reasonable rates when they are unable to get credit elsewhere, but the program does not have a strong record of reaching underserved communities.

10 Movie Inspired Inventions You Won't Believe Exist!

Mind-Blowing Inventions Inspired by the Movies Subscribe to our channel: ..

Meet the Drapers | Buki, LEA & Phluid Project with Andy Tang and Siri Srinivas

Welcome back to Meet the Drapers, the only reality show where you can be an investor! This week, visionary venture capitalist Tim Draper is joined by his father, ...

How Important Is It to Understand Technology by Foursquare PM

Product Management event in New York about how important it is to understand technology. Subscribe here: 🕊️ Follow us on Twitter: ..

The Dark Side of Technology

Criminals, scammers and thieves of all kinds are using technology to target the unsuspecting. Be alert and be smart.

Google I/O'17: Amphitheatre

Technical sessions and deep dives into Google's latest developer products and platforms.


Thorium is an abundant material which can be transformed into massive quantities of energy. To do so efficiently requires a very ..

They Are Making Millions of Dollars Off of Influencer Marketing?! | DailyVee 361

It's not "everything is changing", it's "everything has already changed." There is such a massive disconnect between people and what's already going on... AI, VR ...