Toronto based 500px, a platform for sharing and selling photographs, will acquire Algo Anywhere, a provider of algorithmic recommendation technology. Terms of the deal were not released. Algo Anywhere is also based in Toronto.
500px, the premier platform and community for sharing, discovering, and selling great photographs, announced that it has agreed to acquire Algo Anywhere, a provider of algorithmic recommendation solutions. 500px will fully integrate Algo’s recommendation engine into the 500px platform to further streamline and enhance image discovery and rating algorithms so that users are receiving even more personalized content.
With this acquisition, 500px is fully absorbing Algo including their innovative technology, staff and customer base for a combined cash and stock option transaction. Zach Aysan and Adam Gravitis who lead Algo will join the 500px team as Chief Data Scientist and Chief Software Architect respectively to manage the technology and integration.
“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,” said Oleg Gutsol, CEO of 500px. “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.”
Also based in Toronto, Algo provides customized recommendation solutions based on AI research that are tailored to e-commerce, publishers and social media platforms. As 500px continues to be the fastest growing photography community, Algo will specifically help enhance the backend systems, including rating, photo discovery, Flow (the photo newsfeed) and overall improve the user experience on the site.
“We couldn’t be happier to be joining the 500px team and implementing our technology for such a forward thinking company,” said Adam Gravitis, CEO of Algo Anywhere. “From the beginning there was a natural gravitation for us to the innovative work that 500px is doing in the photography space and how we could further enhance their efforts. Given the infrastructure already in place and our technology capabilities, I believe we can take the 500px experience to the next level.”
In addition to this acquisition, 500px continues to enhance their product offering with new releases. The company recently launched an upgrade to their Marketplace that focuses on showcasing best-selling curated collections so users can easily access and explore popular works. Additionally, 500px also recently opened up their API platform to allow all registered developers instant access to easily build and create with the open 500px content.
Toronto based, 500px is the premier platform and community for discovering, sharing and selling great photographs. With 500px, artists, enthusiasts, amateurs and professionals have a beautiful place to store and showcase their work, a community to engage with and be discovered by, and a marketplace for selling and buying digital prints and gallery-grade canvases instantly.
500px was founded by Oleg Gutsol and Evgeny Tchebotarev in 2009. Community, quality of photography, user experience and design excellence continue to serve as core values. 500px is currently available on Android, iPad and at their website.
About Algo Anywhere:
Algo Anywhere is a Canadian machine learning company dedicated to the development of easy-to-use, reliable and useful services developed with some of the latest results from the academic AI research community.