PayPal Buys Customer Acquisition Company Iron Pearl
Iron Pearl is a stealth startup company that was acquired by eBay subsidiary PayPal.com. Iron Pearl was created by Stan Chudnovsky and James Currier. Chudnovsky is known for advising startups like Lyft, Goodreads, Wanelo, and Goodreads on how to get more users.
Iron Pearl’s optimization tools can track a user on a website or application to find out what keeps them coming back in a week or month. PayPal was one of Iron Pearl’s early testers. GoodReads, a company acquired by Amazon.com, was another early tester of Iron Pearl,
PayPal found Iron Pearl very valuable so they decided to acquire the company as a whole before it launched. The price was in the double-digit millions according to TechCrunch. Chudnovsky will become PayPal’s VP of growth and Currier will be a growth advisor at PayPal. Currier will not be joining PayPal full-time.
“Creating a growth group is foundational for us,” stated PayPal president David Marcus. “PayPal has grown to almost 125 million users almost organically, and we’ve never pulled the levers to grow much faster. There are only very few, world-renowned growth hackers in the world and Stan is one of them.”
Chudnovsky and Currier both worked on a company in the past called Tickle. Tickle was known for developing personality quizzes and tests. Monster.com ended up acquiring Tickle for $100 million. After launching Tickle, Chudnovsky launched a gaming company called Wonderhill and sold it to Kabam.
“The main reason I decided to sell is because I’ve built companies before,” said Chudnovsky. “I know what that path looks like. When you look at something like PayPal, it’s different. It’s more of a marketplace than just a sheer network. There are merchants and people transacting with each other.”