ODDITY Acquires Intellectual Property and Elite AI Research Team to Accelerate AI Capabilities
ODDITY Tech (NASDAQ: ODD) announced the acquisition of Fionic1's tech intellectual property and AI research team. Fionic1, a fintech company known for advanced AI modeling capabilities, will integrate its specialized algorithms into ODDITY’s operations. The acquisition includes Asaf Nurick, Fionic’s co-founder and former CTO, along with core AI R&D team members. This move aims to enhance ODDITY's AI models, particularly in direct-to-consumer applications.
ODDITY’s CEO Oran Holtzman emphasized the strategic importance of this acquisition for expanding their AI capabilities, aiming to deliver superior consumer products and experiences. Asaf Nurick expressed enthusiasm about leveraging ODDITY’s platform to advance predictive technology. The transaction is not expected to significantly affect ODDITY’s financial position, liquidity, or 2025 earnings outlook.
ODDITY Tech (NASDAQ: ODD) ha annunciato l'acquisizione della proprietà intellettuale tecnologica e del team di ricerca AI di Fionic1. Fionic1, una compagnia fintech nota per le sue avanzate capacità di modellazione AI, integrerà i suoi algoritmi specializzati nelle operazioni di ODDITY. L'acquisizione include Asaf Nurick, co-fondatore di Fionic e ex CTO, insieme ai membri chiave del team di R&D AI. Questa mossa mira a migliorare i modelli AI di ODDITY, in particolare nelle applicazioni direct-to-consumer.
Oran Holtzman, CEO di ODDITY, ha sottolineato l'importanza strategica di questa acquisizione per espandere le loro capacità AI, con l'obiettivo di offrire prodotti e esperienze superiori ai consumatori. Asaf Nurick ha espresso entusiasmo riguardo alla possibilità di sfruttare la piattaforma di ODDITY per avanzare nella tecnologia predittiva. Si prevede che la transazione non avrà un impatto significativo sulla posizione finanziaria di ODDITY, sulla liquidità, o sulle prospettive di guadagno per il 2025.
ODDITY Tech (NASDAQ: ODD) anunció la adquisición de la propiedad intelectual tecnológica y del equipo de investigación de IA de Fionic1. Fionic1, una empresa fintech conocida por sus avanzadas capacidades de modelado de IA, integrará sus algoritmos especializados en las operaciones de ODDITY. La adquisición incluye a Asaf Nurick, cofundador de Fionic y ex CTO, junto con miembros clave del equipo de I&D de IA. Este movimiento tiene como objetivo mejorar los modelos de IA de ODDITY, particularmente en aplicaciones directas al consumidor.
Oran Holtzman, CEO de ODDITY, enfatizó la importancia estratégica de esta adquisición para expandir sus capacidades de IA, con el objetivo de ofrecer productos y experiencias superiores a los consumidores. Asaf Nurick expresó su entusiasmo por aprovechar la plataforma de ODDITY para avanzar en la tecnología predictiva. Se espera que la transacción no afecte significativamente la posición financiera de ODDITY, su liquidez, ni las perspectivas de ganancias para 2025.
ODDITY Tech (NASDAQ: ODD)는 Fionic1의 기술 지적 재산 및 AI 연구팀을 인수했다고 발표했습니다. Fionic1은 고급 AI 모델링 능력으로 잘 알려진 핀테크 회사로, ODDITY의 운영에 전문 알고리즘을 통합할 것입니다. 이번 인수에는 Fionic의 공동 창립자이자 이전 CTO인 Asaf Nurick와 핵심 AI R&D 팀원들이 포함됩니다. 이 조치는 특히 소비자 직접 판매 애플리케이션에서 ODDITY의 AI 모델을 개선하는 것을 목표로 합니다.
ODDITY의 CEO인 Oran Holtzman은 이러한 인수의 전략적 중요성을 강조하며 AI 능력 확장을 통해 소비자에게 우수한 제품과 경험을 제공할 계획이라고 밝혔습니다. Asaf Nurick는 ODDITY의 플랫폼을 활용하여 예측 기술을 발전시킬 수 있는 가능성에 대해 열정을 표했습니다. 이 거래는 ODDITY의 재무 상태, 유동성 또는 2025년 수익 전망에 significant한 영향을 미치지 않을 것으로 예상됩니다.
ODDITY Tech (NASDAQ: ODD) a annoncé l'acquisition de la propriété intellectuelle technologique et de l'équipe de recherche en IA de Fionic1. Fionic1, une entreprise fintech reconnue pour ses capacités avancées de modélisation en IA, intégrera ses algorithmes spécialisés dans les opérations d'ODDITY. L'acquisition comprend Asaf Nurick, co-fondateur de Fionic et ancien CTO, ainsi que des membres clés de l'équipe de R&D en IA. Ce mouvement vise à améliorer les modèles d'IA d'ODDITY, en particulier dans les applications directes aux consommateurs.
Oran Holtzman, CEO d'ODDITY, a souligné l'importance stratégique de cette acquisition pour étendre leurs capacités en IA, visant à fournir des produits et des expériences supérieurs aux consommateurs. Asaf Nurick a exprimé son enthousiasme à l'idée de tirer parti de la plateforme d'ODDITY pour avancer dans la technologie prédictive. Il n'est pas prévu que la transaction ait un impact significatif sur la position financière d'ODDITY, sa liquidité ou les prévisions de bénéfices pour 2025.
ODDITY Tech (NASDAQ: ODD) hat die Übernahme des geistigen Eigentums und des KI-Forschungsteams von Fionic1 angekündigt. Fionic1, ein Fintech-Unternehmen, das für seine fortgeschrittenen KI-Modellierungsfähigkeiten bekannt ist, wird seine spezialisierten Algorithmen in die Abläufe von ODDITY integrieren. Die Übernahme umfasst Asaf Nurick, Mitbegründer von Fionic und ehemaliger CTO, sowie zentrale Mitglieder des KI-Forschungs- und Entwicklungsteams. Dieser Schritt zielt darauf ab, die KI-Modelle von ODDITY zu verbessern, insbesondere in Direktanwendungen für Verbraucher.
ODDITYs CEO Oran Holtzman betonte die strategische Bedeutung dieser Übernahme zur Erweiterung ihrer KI-Fähigkeiten, mit dem Ziel, überlegene Verbraucherprodukte und -erfahrungen zu bieten. Asaf Nurick äußerte Begeisterung darüber, die Plattform von ODDITY zu nutzen, um prädiktive Technologien voranzubringen. Es wird nicht erwartet, dass die Transaktion die finanzielle Position von ODDITY, die Liquidität oder die Gewinnprognose für 2025 erheblich beeinflusst.
- Acquisition of advanced AI intellectual property from Fionic1.
- Integration of Fionic1's specialized algorithms into ODDITY's operations.
- Inclusion of Asaf Nurick and core AI R&D team to enhance existing AI models.
- Strategic move to deepen AI capabilities for direct-to-consumer applications.
- None.
Insights
The acquisition of Fionic1's IP and AI research team marks a strategic enhancement of ODDITY's technological capabilities. The deal brings specialized expertise in real-time data processing and consumer behavior prediction, particularly valuable for a D2C beauty company. The integration of Fionic's advanced modeling capabilities could significantly improve ODDITY's personalization algorithms and demand forecasting systems.
For the general public: Think of this like adding a team of expert chefs with their secret recipes (algorithms) to an already successful restaurant. These chefs specialize in predicting exactly what customers want before they even know it themselves.
The specific mention of real-time data sets suggests capabilities in processing live consumer behavior data, which could enhance ODDITY's ability to adapt product recommendations and inventory management instantly. However, the statement that the transaction won't materially impact financials indicates this is a relatively small acquisition focused on talent and IP rather than revenue-generating assets.
This acquisition represents a defensive and offensive strategic move in the competitive beauty tech space. By acquiring Fionic1's IP and talent, ODDITY is both protecting its market position and expanding its technological moat. The focus on AI-driven consumer insights aligns with the industry's shift toward hyper-personalization and predictive analytics.
For the general public: Imagine a beauty company not just selling products, but having a crystal ball that helps them know exactly what customers will want next. That's what this AI team brings to the table.
The integration of Fionic's team, particularly their expertise in financial and consumer end markets, could enhance ODDITY's ability to optimize pricing strategies and reduce customer acquisition costs. While the immediate financial impact is stated as immaterial, the long-term strategic value could be substantial in maintaining ODDITY's competitive edge in the
NEW YORK, Jan. 21, 2025 (GLOBE NEWSWIRE) -- ODDITY Tech Ltd. (NASDAQ: ODD) today announced that it has acquired the tech intellectual property of Fionic1, a fintech company with advanced AI modeling capabilities for financial and consumer end markets.
Asaf Nurick, Fionic’s co-founder and former CTO, along with core members of his AI R&D team, have joined ODDITY and will focus on solving high impact missions via AI, harnessing proven methods of prediction and data-driven user engagement.
The Fionic team developed specialized algorithms which have excelled at tackling complex, real-time data sets. The acquisition and integration allows ODDITY to deepen its existing AI models and expand ODDITY’s lead in advancing AI-based algorithms for direct-to-consumer applications, which the company currently deploys across a range of front and back-end operations.
“Bringing Fionic’s elite AI research team in-house further increases our investment in expanding the frontier of AI in our industry,” said Oran Holtzman, ODDITY Co-founder and CEO. “We are excited for Asaf Nurick and his team to build upon their deep modeling expertise, enhance our current models and technology moat, and push the boundaries of what’s possible, all aimed at our goal of providing consumers with the best possible product and experience.”
“I founded Fionic on the principle that advanced algorithms can decode the nuances of consumer behavior,” added Asaf Nurick. “Joining forces with ODDITY provides a powerful platform for us to expand our reach and accelerate breakthrough developments in predictive technology.”
The transaction is not expected to have a material impact on ODDITY’s financial position, liquidity, or 2025 earnings outlook.
About Fionic's team:
The former Fionic Israel team members joining ODDITY are an elite group of AI researchers and data scientists with experience spanning military intelligence, academia and industry. Team members served in Israel’s leading technology and intelligence units including Unit 8200 and Matzov, hold advanced degrees with honors in mathematics, computer science, and engineering, and have won medals in premier global math competitions including IMO and IMC. The team brings rich experience from top tech companies, ensuring its collective expertise spans high‐scale optimization, advanced data science, and real‐time AI deployment.
About ODDITY:
ODDITY is a consumer tech company that builds and scales digital-first brands to disrupt the offline-dominated beauty and wellness industries. The company serves approximately 50 million users with its AI-driven online platform, deploying data science to identify consumer needs, and developing solutions in the form of beauty and wellness products. ODDITY owns IL MAKIAGE and SpoiledChild. The company operates with business headquarters in New York City, an R&D center in Tel Aviv, Israel, and a biotechnology lab in Boston.
Contacts:
Press:
Michael Braun
michaelb@oddity.com
Investor:
investors@oddity.com
1 Fionic's consumer data and certain other information, including third-party proprietary information, related to Fionic's fintech business as well as its tradename, goodwill and domain names related to such business, were not acquired. Furthermore, ODDITY provided Fionic with a limited non-exclusive license in Canda for granting sublicenses in the software which is part of the acquired intellectual property to Fionic's B2B customers who are engaged in the provision of consumer credit services in Canada and for supporting and maintaining such software for such customers.
FAQ
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