O Luiza stores announced, on Wednesday, the acquisition of technology company SmartHint, focused on smart search and purchase recommendation for e-commerce. According to the retailer, the goal is to make it “the search engine” for the Magalu superapplication and website. With artificial intelligence, the platform allows customers to be able to find products even if they mistyped, search by voice, in addition to finding items by reading images.
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That is, with the acquisition, Magalu takes another step to make the app more popular in different social layers, allowing anyone to search the app. In addition, the algorithm suggests new products for each search made, which contributes to making the experience more personalized in any available niche. Today, the application has 26 million items available, according to the company.
“With the acquisition, SmartHint will also integrate the strategic pillar Magalu as a Service (MaaS), offering technology to search and recommend products to thousands of sellers connected to the Magalu platform. The acquisition represents another important step in the strategy of Brazilian retail digitization company “, affirmed Magalu, in a note.
According to the statement sent by Magazine Luiza to the market, Today, SmartHint serves 1,000 customers and its tools generated R $ 620 million in sales.
This is the fifth acquisition that the company makes in 2021, focused on the development of its digital environment on several fronts. Previously, VipCommerce, a supermarket platform, ToNoLucro, a ready-made food delivery app, GrandChef and the fashion website Steal The Look were acquired.
The retailer did not disclose the value of the acquisition and said the transaction was made by LuizaLabs, a company controlled by Magalu.