In a bid to deliver real-time pricing and product analyticsto its sellers, Walmart-backed e-commerce marketplace Flipkart has acquired Upstream Commerce, an Israel-based retail analytics company. The amount of the deal is not disclosed.
This is the second acquisition of Flipkart this year, after it acquired Bengaluru-based artificial intelligence startup Liv.ai in August.
Kalyan Krishnamurthy, CEO of Flipkart, said, "With the Upstream acquisition, we will now have tech and talent presence across Asia, US and Israel, some of the key global hubs for innovation. The team at Upstream Commerce is highly talented and as we welcome them to Flipkart we are also looking forward to making Israel one of our excellence centres to does cutting-edge data science work."
The buyout of Upstream Commerce, offering cloud-based, automated competitive pricing and product analysis technology, will strengthen Flipkart's ability to deliver insights to its sellers.
Anil Goteti, Head of Marketplace at Flipkart, said, "The company uses data science and analytics to provide insights to e-commerce platforms across the globe. We believe this acquisition will strengthen our already existing capabilities of providing insights to our sellers on both selection and pricing."
After the acquisition, the team of Upstream Commerce will become a part of Flipkart while continuing to work out of Israel.
Amos Peleg, CEO of Upstream Commerce, said, "The choice and vision of Flipkart to establish its presence in Israel through acquiring Upstream Commerce is a significant vote of confidence in the company's team, technology and domain expertise, and are looking forward to helping to grow the presence of Flipkart in Israel."