AOL Acquired and Folded up Velos’s Predictive Analytic Services

AOL

AOL Acquired and Folded up Velos’s Predictive Analytic Services

A predictive analytic startup firm – Velos has been acquired by AOL for an undisclosed amount and has folded up its services that enabled companies to connect data sets, run predictive models and clean up their database.

The deal went down in the month of March, as stated by Albert Azout – the Founder of LinkedIn Profile, but hadn’t been made public until today.

Velos wrote in a note on its homepage, where it has stated that they are happy to announce that Velos – Sociocast Network, LLC – is now a part of AOL Inc., and their services will no longer be available to the general public, and the company is thankful to its audience for supporting their services.

Many predictive analytic startups have been acquired in the past couple of years, including InsightsOne, Cognilytics, and KXEN.

Verizon as of late acquired AOL itself for $4.4 billion.

New York-based Velos started in 2010, initially under the name Sociocast Networks. Investors included Detroit Venture Partners, Bobby Yazdani, Doug Imbruce, Raptor Ventures, and Joe Zawadzki. Clients included Cigna Health, and Quicken Loans.

In 2013 the startup turned to focus not only on individual developers, but also on less technical sound savvy business owners.

Velos’s services supported the Hadoop open-source file framework for storing heaps of various kinds of records, and the R and Python programming languages.

Carrie Ann
Carrie Ann is Editor-in-Chief at Industry Leaders Magazine, based in Las Vegas. Carrie covers technology, trends, marketing, brands, productivity, and leadership. When she isn’t writing she prefers reading. She loves reading books and articles on business, economics, corporate law, luxury products, artificial intelligence, and latest technology. She’s keen on political discussions and shares an undying passion for gadgets. Follow Carrie Ann on Twitter, Facebook

Recent Posts

Monte dei Paschi performance below par in EU banks stress test

Monte dei Paschi performance below par in EU banks stress test

The depletion of capital at each bank under the test’s harshest scenario will be closely scrutinised, and could potentially lead to hostile takeovers
2 days ago
Nokia to launch T20 tablet with 10.36 inch display

Nokia to launch T20 tablet with 10.36 inch display

The Nokia T20 will sport a 10.36-inch display and will have 4 GB RAM along with 64 gigs of native storage.
3 days ago
Ford sees surprise Q2 profit despite chip shortage and manufacturing hassles

Ford sees surprise Q2 profit despite chip shortage and manufacturing hassles

“The business is ‘spring loaded’ for a rebound when semiconductor supplies stabilize and more closely match demand.”
4 days ago
Audi A6 E-tron Production Launch in 2023

Audi A6 E-tron Production Launch in 2023

Audi has confirmed that there will be multiple variants of the etron, including “basic versions optimized for minimum consumption and maximum range.
4 days ago
Royal Dutch Shell buyback lifts investor sentiment

Royal Dutch Shell buyback lifts investor sentiment

Royal Dutch Shell commences share buybacks before the end of this year while reducing its first quarter dividend to 16 cents per share, a 66% cut.
4 days ago
Citizens Financial to acquire Investors Bancorp in $3.5 billion NYC push

Citizens Financial to acquire Investors Bancorp in $3.5 billion NYC push

Citizens Financial Group, Inc. and Investors Bancorp announced today that they have entered into a definitive agreement and plan of merger in a cash-and-stock deal worth $3.5 billi
5 days ago