eBay acquires SalesPredict
eBay has agreed to acquire SalesPredict, an Israeli-based company that leverages advanced analytics to predict customer buying behaviour and sales conversion.
The acquisition is intended to bolster eBay’s artificial intelligence, machine learning and data science capabilities.
Financial terms of the deal were not disclosed however, number of SalesPredict’s employees will join eBay’s structured data organisation, working from eBay’s Israeli Development Centre in Netanya.
The deal follows eBay’s recent acquisition of AI start-up Expertmaker in May.
“For our buyers, it will help us better understand the price differentiating attributes of our products, and, for our sellers, it will help us build out the predictive models that can define the probability of selling a given product, at a given price over time,” said Amit Menipaz, VP and GM of structured data at eBay.
The company explained there are three key efforts that comprise eBay’s structured data initiative: collect the data; process and enrich the data; and create product experiences. SalesPredict will contribute to data processing and enrichment, specifically with respect to inventory insights.
“With more than 900 million listings on eBay, there is an enormous opportunity to extend our experience in machine learning and predictive analytics to help eBay identify important product attributes that can affect the price of a product,” said Yaron Zakai-Or, SalesPredict co-founder. “In partnership with eBay’s broader structured data team, we will help arm eBay sellers with more information about the value of items, ultimately helping to increase customer sales conversions.”
SalesPredict was co-founded in 2012 by Yaron Zakai-Or and Kira Radinsky and its main investors include Yandex, AfterDox, Redline Capital, KGC Capital, and Pitango Venture Capital.