The artificial intelligence-powered consumer brand group 100.co has acquired Cherry Pick AI, a New York-based predictive intelligence platform for product development.
WHO: Cherry Pick is predictive intelligence for product development. By transforming comments on social content into predictive purchase intent for product SKUs, Cherry Pick enables brands, retailers, and manufacturers to know what their target customers want at any given time. Its innovative SKU-level purchase intent signal helps pinpoint consumer product preferences down to the product attribute level.
100.co is an AI-powered consumer brand group with purpose-driven products co-created with influential founders. With insights from digital-first consumers and direct-to-consumer e-commerce distribution, the company is reinventing the product development process that legacy CPG brands have relied on for decades. 100.co’s proprietary AI platform Claire uses artificial intelligence, machine learning, and big data to predict product needs and market fit, reduce risk, and influence product attributes.
WHY: The acquisition bolsters 100.co’s proprietary AI capabilities, significantly accelerating the company’s mission to reinvent the product creation and go-to-market processes legacy consumer brands have relied on for the last century. 100.co will leverage the platform’s product identification technology and data-gathering techniques that track consumer preferences for valuable product attributes to develop the next generation of CPG brands.
IN THEIR OWN WORDS: “The Cherry Pick team has built an incredibly powerful AI platform that enables us to understand what today’s digital-first consumers want at a granular level, and to harness those insights in a meaningful way,” said Kim Perell, CEO and co-founder of 100.co. “Cherry Pick’s predictive intelligence and ability to measure demand for products before launch are invaluable assets to 100.co as we strengthen our proprietary AI platform Claire to disrupt the CPG industry.”
Justin Stewart, Senior Vice President of Product and Technology at 100.co and former CEO of Cherry Pick AI, said, “100.co is a multi-billion dollar opportunity. By leveraging Cherry Pick’s technology to understand consumer preferences, 100.co is bringing authentic purpose-driven brands to market in months vs years. Our shared mission is to move the CPG industry to a more product-centric approach that resonates with, and satisfies, today’s digitally-savvy consumers.”
James Brennan, Chairman and co-founder of 100.co, added, “Consumers today are telling the market what they want, but traditional CPG companies are not listening. If a brand’s values are not in line with their target audiences’ values, they will continue to fail. Cherry Pick not only listens, it also provides the data that 100.co can activate against to ensure success.”
Melissa Munnerlyn, Senior Vice President of Brand and Tech Solutions at 100.co and former COO of Cherry Pick AI, concluded, “100.co and Cherry Pick are culturally-informed builders and operators of technology—our unique experiences coupled with our skill sets drive our platform and are part of our secret sauce. It has already proven to hold a competitive advantage over traditional CPG companies.”
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