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Flipkart Takes Over Israeli Re...India’s Flipkart buys Upstream Commerce, an Israel-based retail analytics company. The financial terms of the deal were not disclosed by any of the companies.
After Flipkart acquired Liv.ai for $40 M a few weeks back, the new acquisition will help the Indian e-commerce giant to utilize Upstream’s technology in offering real-time pricing and product analytics to its sellers.
The new technology will help Flipkart to add several more millions of products to its marketplace.
A team of 20 members from Upstream will join Flipkart and will carry out their work outside of Israel. Furthermore, due to Israel’s growing IT startups, Flipkart will carry out their future data science work there. To integrate Upstream’s technology with Flipkart, the data scientist team of Flipkart will work with the Israeli in the upcoming months.
According to Flipkart, the US, Asia, and Israel being the important hubs for innovation, the acquisition has brought both tech and talent in those regions. The company was looking for a strong company who could solve out India specific problems.
To explore the tech talent in the Bay Area, Flipkart has already established an office in California. Recently, Flipkart has closed its majority stake sale deal with Walmart where the company received an infusion of Rs 3,463 crores.
It will be interesting to see how Flipkart will use Upstream’s’ technology in uplifting its business.