500px Acquires Algo Anywhere For $2 Million In Cash and Stock
500px is a Toronto-based photo sharing startup company that has acquired Algo Anywhere for $2 million in cash and stock. Algo Anywhere is also a Toronto-based company, but they focus on recommendation algorithms. Algo Anywhere is run by two guys that founded the company 10 months ago.
Algo Anywhere’s engine technology will be integrated fully into 500px to power new personalization features. Algo Anywhere’s Zach Aysan and Adam Gravitis will become 500px’s Chief Data Scientist and Chief Software Architect. 500px will now have a staff of 16. 500px lets photographers share and sell their photos.
“One of our goals that we’re constantly working towards with our platform, is to make it more user friendly, more customized and more engaging,” stated 500px CEO Oleg Gutsol. “When we first met the Algo team we immediately recognized that their capabilities and technology would be a perfect fit for our needs to make social photography more interactive and engaging. Combining their big data analysis and recommendation engine, curation and visual content we’re looking forward to offering our users a greatly enhanced experience.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry