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Rare Carat

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Rare Carat
IndustryE-commerce
FoundedOctober 2016
FounderAjay Anand (CEO)
Headquarters
ProductsDiamonds
Websiterarecarat.com

Rare Carat is a New York City-based startup and e-commerce platform for buying diamonds and diamond rings.[1][2][3] The company uses data science and technologies such as blockchain and AI-driven chatbots to optimize the performance of its platform and user experience.[4]

History[edit | edit source]

Rare Carat launched in October 2016[5] by Ajay Anand.[1] Anand says Rare Carat has the capacity to disrupt the market for the diamonds by bringing greater transparency to an industry that has traditionally relied on opacity.[4]

Rare Carat does not physically stock and sell diamonds. Its platform offers prospective diamond buyers comparison shopping and price transparency by connecting them to diamond retailers.[6] The platform uses IBM Watson technology to compare the price of diamonds.[1] Rare Carat has also partnered with Everledger, whose technology tracks diamond provenance, on a blockchain-based diamond ledger to verify the certification and transaction history of the diamonds its vendors are offering, as well as ensure they are conflict free.[6][7][non-primary source needed]

In February 2017, Rare Carat introduced an artificial intelligence chatbot called "Rocky" to assist novice diamond buyers through the process. As part of the IBM Global Entrepreneur Program, Rare Carat received the assistance of IBM in its development.[8][9]

References[edit | edit source]

  1. 1.0 1.1 1.2 "This Diamond Startup Wants To Change the Way You Buy An Engagement Ring". Forbes. October 4, 2016.
  2. "Forget 'Diamonds Are Forever': Millennials Want to Buy Diamonds on Their Own Terms". WNYC NPR. February 14, 2017.
  3. "The Inside Story of the "Kayak for Diamonds"". JCK. October 13, 2016.
  4. 4.0 4.1 "Spotlight on: Rare Carat, Digital.NYC's Startup to Watch for November 2016". Digital.NYC. November 1, 2016.
  5. "Rare Carat Hits 1 Million Searches; Refinery29 Helps Explore Which States Spend the Most". PRNewswire. April 27, 2017.
  6. 6.0 6.1 "Diamonds Are Forever: How One Startup Is Disrupting A Static Industry". Silicon NYC. February 21, 2017.
  7. "Diamonds and Ethics". Rare Carat. October 6, 2016.
  8. "Rare Carat's Watson-powered chatbot will help you put a diamond ring on it". TechCrunch. February 15, 2017.
  9. "10 ways you may have already used IBM Watson". VentureBeat. March 10, 2017.

External links[edit | edit source]


This article "Rare Carat" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Rare Carat. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.


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