February 7, 2020
Odd Concepts Inc., an AI fashion styling service provider, aims to expand its APAC region business through acquisitions.
Odd Concepts said on Feb. 5 that it took over SEACRUX, a Singaporean start-up, accelerating its push of ‘PXL’ service into the APAC market.
SEACRUX is a start-up with a growing business presence in APAC, including Singapore, with its contextual targeting ad systems based on applied machine learning. Contextual targeting ad is a technology to expose an ad which fits the content of a webpage being viewed by consumers.
SEACRUX will be reorganized into the Odd Concepts’ overseas business headquarters with the mission of expanding Odd Concepts’ PXL service.
Odd Concepts’ PXL is a service that recommends customized fashion products to consumers after analyzing their individual taste in the category of fashion. It can be applied to the whole process of fashion marketing on a single occasion — from image attribute analysis (PXL.TAG) to the recommendation of similar products (PXL.SEARCH) to the suggestion of styles (PXL.STYLE) to AI targeted advertising (PXL.AD).
Odd Concepts plans to apply its AI ad solution, PXL.AD, to the existing business channels of SEACRUX in a bid to raise the service efficiency. PXL.AD, which induces the influx of consumers targeted by shopping malls based on deep learning, achieved return on ad spend (ROAS) of as high as 7,260% and 5,050% in a test on an internet shopping mall of a TV home shopping company and an open-market company. Generally, ROAS of 500% or more is considered to be excellent.
Odd Concepts has a plan to form partnerships with major online commerce players within the APAC region through its verified services.
“The takeover is the most significant in that we have SEACRUX CEO Brian S. Bae on our team. He was heading the SEA mobile partnerships for Facebook and the managing director at Kakao APAC based in Singapore,” Odd Concepts CEO Kim Jeong-tae said, “It will be the starting point to accelerate our APAC regional business.”
Established in 2012, Odd Concepts is a leading Vision AI company that provides PXL service to about 100 online commerce partners at home and abroad. The service of Odd Concepts recommends personalized products by utilizing AI in searching and analyzing images.