Aditya MadanapalleJul 12, 2016 10:31:08 IST
eBay has acquired Israeli data analysis company SalesPredict for an undisclosed sum. The acquisition will be used for predictive analytics, so that eBay can have an understanding of the which products will sell at what price at particular times. The team will be based out of Netanya, at the Israeli development center of eBay. The acquisition is a part of eBays structured data initiative. SalesPredict will improve eBay's data processing and data enrichment. SalesPredict was founded by Kira Radinsky and Yaron Zakai-Or.
Amit Menipaz, Vice President and General Manager of Structured Data at eBay says “SalesPredict’s deep expertise in predictive analytics and machine learning will contribute to eBay’s structured data efforts. 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."
Kira Radinsky said “As a data scientist at heart, I’ve always been interested in exploring the myriad ways we can leverage data to predict future high impact events. In founding SalesPredict, our vision was to bring about a major change in how business is conducted by unifying micro- and macro-economic predictions. Today, this vision has yielded state-of-the-art automated data science capabilities. I am excited to have the opportunity to bring these capabilities to eBay’s community and ecosystem.”
Yaron Zakai-Or said “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.”
Tech giants like to eat up data science startups, and this is the latest in a long list of such acquisitions. eBay had previously acquired ExpertMaker for similar reasons of improving its data processing and data enrichment. The company from Sweden specialised in using artificial intelligence for big data analysis. Microsoft's acquisitions include Secure Islands, a data protection firm, and Adallom a cloud security vendor. Both companies were Israeli. Microsoft had acquired big data analytics startup Metanautix late last year. Yahoo had picked up Flurry, a mobile app analytics company. A year ago, Twitter acquired ZipDial, a mobile marketing and analytics startup from Bengaluru. Apple had acquired FoundationDB and Acunu to boost its data handling capabilities.
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