Flipkart has acquired an Israel
based analytics start-up called Upstream Commerce, as India’s largest online
retailer looks to help its massive seller base with services such as real-time
pricing and product assortment information.
This is Flipkart’s second
acquisition in as many months, after the Walmart-controlled e-commerce firm
acquired Indian artificial intelligence start-up Liv.ai in August. The latest
buyout will also enable Flipkart to have an outpost in Israel, which is widely
regarded as one of the world’s foremost start-up ecosystems.
Upstream, which counted
Israel-based early-stage venture capital firm YL Ventures as its biggest
investor prior to the buyout, currently builds cloud-based and automated
competitive pricing products and solutions, among other things. With the
Upstream acquisition, Flipkart will now have tech and talent presence across
Asia, US and Israel, some of the key global hubs for innovation.
Earlier,
Flipkart has held talks to buy a stake in Hotstar, Star India’s video streaming
service, as part of a broader strategy from Flipkart to bet on video content
and attract more Internet consumers and shoppers, without having to build an
Amazon Prime Video-like streaming service from scratch.
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