LOS ALTOS, Calif.--(BUSINESS WIRE)--PredictSpring today announced a new innovative technology platform that will help brands capture the $700 billion m-commerce market and ultimately make the “Buy button” on social media a reality for consumers. Led by Nitin Mangtani, the visionary behind Google Shopping, together with a team of early mobile commerce engineers from Motorola and VISA, PredictSpring’s new Commerce Gateway and Mobile Platform is launching with leading brands like Cole Haan, Eddie Bauer, Bluefly and Woodcraft.
PredictSpring is backed by Beanstalk Ventures, the retail technology focused seed fund launched by Ken Seiff, founder of Bluefly, co-founder of Poppin and former EVP of Brooks Brothers; and Novel TMT Ventures, the technology investment arm of Silas Chou and his family.
“Mobile commerce is undeniably the future of retail and shopping, but the technology hadn’t yet existed to make it a seamless buying experience,” said Mr. Mangtani, the Founder and CEO of PredictSpring. “For the past 15 years, brands and retailers have focused on ad formats to promote products, but these strategies were designed for desktop and have largely failed on mobile. We have arrived at a time when every form of mobile content will be ‘shoppable’ – whether via a retailer’s own app, social media platforms, or publisher apps. PredictSpring is in the business of providing that gateway to commerce.”
While 60 percent of consumers’ online retail browsing is currently done on mobile devices, only 15 percent of retail dollars are spent on these devices. PredictSpring is helping brands close this gap. Brands and retailers are leveraging PredictSpring’s Mobile Platform to build customized native mobile apps that offer a rich and seamless shopping experience and drive purchases. Leading brands and retailers use PredictSpring’s Mobile Platform to elevate their mobile brand experience, reduce drop-off rates and increase mobile conversions.
Cole Haan is the first lifestyle brand to launch the “Shop the Look” feature with Apple Pay, where its consumers are able to shop directly from the Instagram feed in Cole Haan’s mobile app. Cole Haan is also part of an early access program to leverage PredictSpring’s Commerce Gateway to power “Buy buttons’’ on consumer apps including social media and publishing.
PredictSpring’s highly scalable Commerce Gateway is powering today’s “Buy buttons,” enabling mobile shopping on retail and social media apps. Enabling “Buy buttons” on mobile commerce requires complex integration. PredictSpring solves that problem by providing a unified API through its Commerce Gateway and removing significant barriers previously associated with mobile commerce. PredictSpring’s Commerce Gateway provides seamless integration with a brand’s e-commerce platform, store inventory system, payment processor, loyalty program, and product catalog.
“Today, mobile commerce is hindered by pages that take 6-8 seconds to load and a checkout process that requires filling in complex forms for shipping and billing information. PredictSpring’s mobile platform solves both of those problems by providing split second page loads and one-click checkout with Apple Pay. It's the future of mobile shopping. Just swipe and buy,” said Ken Seiff, Founder & Managing Partner, Beanstalk Ventures.
About PredictSpring
PredictSpring is revolutionizing mobile commerce with an innovative technology platform that dramatically improves and simplifies the way consumers shop on mobile phones. Led by the visionary behind Google Shopping and other early mobile commerce pioneers, PredictSpring helps retailers and brands drive mobile commerce and easily enable “Buy” experiences on brand and social media apps. For more information, please visit www.predictspring.com.
