Zodiac Inc., a consumer-data analytics firm with offices in Philadelphia and New York, has been acquired by Nike Inc., Nike said March 22 in a statement here.
Zodiac, formerly known as CLV Metrics (for Customer Lifetime Value), provides estimates of future spending by customers who buy from women's retailers.
Zodiac's predictive-spending platform had been picked up by a string of brands. But Nike has chosen to scrap those relationships and keep the app for itself, writes Roberto Torres at Technical.ly Philly: "The 13-person team developed a technology platform that shows companies how much a customer will spend in the future, based on research done by co-founder Peter Fader, a professor at the University of Pennsylvania's Wharton School of Business," he noted, citing Fader. "Following the acquisition, the company terminated its relationship with all clients — a list that has included ModCloth, American Apparel and Dressbarn — and will offer its services solely to Nike as a standalone division."
In 2016, Zodiac raised $3 million from investors led by FirstRound Capital, a venture capital firm whose founders include Josh Kopelman, who is board chair of the Philadelphia Media Network, which publishes the Inquirer/Daily News and philly.com. Other investors included Metamorphic Ventures, Felicis Ventures, and Western Technology Investment.