Coinbase Acquires an AI Startup to Improve Customer Service
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Answer Coinbase Acquires an AI Startup to Improve Customer Service
Founded by Coinbase’s chief operating officer in India, Agara helps Coinbase serve customers using artificial intelligence and machine learning.
We have often posted on Arab Bitcoin Coinbase’s quest to improve technical support services.
Coinbase recently decided to acquire a new startup operating in India.
Coinbase on Tuesday officially announced the acquisition of Agara, an artificial intelligence-powered platform with operations in India and the United States.
The acquisition aims to expand and automate Coinbase’s customer service capabilities by providing new machine learning and conversational language processing tools to the Coinbase engineering team.
The agreement also reaffirms the company’s strategy to expand its technology hub in India.
Technology-focused magazine TechCrunch reported Monday, citing anonymous sources familiar with the matter, that the acquisition of Agara would cost Coinbase between $40 million and $50 million.Read:Learn the story of an NFT trader turning $1,400 to $3.3 million in Ethereum!
The two companies reportedly expect to close the deal later this year.
Founded in 2017, Agara works on machine learning and language processing to improve the user experience.
Agara employs about 40 people, and the company has reportedly been successful in attracting and mobilizing major clients, including cloud-based software company Salesforce and major e-commerce company Shopify.
According to Pankaj Gupta, COO of Coinbase in India, the Agara tech team will join Coinbase as part of the acquisition.
Gupta, co-founder of Agara, expects the purchase to be profitable for both Agara and Coinbase.
It’s amazing to see my worlds collide here with Agara, a startup I co-founded in early 2017, but later left to join Google.
As we have indicated, the acquisition comes as a step by Coinbase to improve the experience of its customers at a time when the company is struggling to provide adequate customer service.
In mid-October, Coinbase users reportedly criticized Coinbase’s new phone support and a host of other technical support complaints, with the company taking this issue into account and trying to find a definitive solution to it through the new acquisition.Read:How is the Cardano project trying to solve the biggest blockchain problems?
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