Flipkart Buys Retail Intel Provider Upstream Commerce

Bengaluru, India-based eCommerce marketplace Flipkart has acquired Israeli retail intelligence provider Upstream Commerce, to help it deliver insights to its sellers. Terms of the deal were not disclosed.

Upstream Commerce offers pricing intelligence software which tracks, compares and analyses market prices; and an assortment intelligence tool showing retailers which product mix competitors are offering. The firm also combines predictive and dynamic pricing analysis with competitive historical data to benchmark and assess the effectiveness of pricing policies.

According to Flipkart, the acquisition brings data science-based solutions to India to help sellers boost sales, as well as giving it an overseas innovation centre. CEO Kalyan Krishnamurthy (pictured) comments: '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 do cutting edge data science work'.

Web sites: www.flipkart.com and www.upstreamcommerce.com .