Flipkart said it has acquired Israel-based technology firm Upstream Commerce for an undisclosed amount as the Walmart-backed firm aims to further strengthen its selection and pricing capabilities.
Flipkart, in order to compete with its American counterpart in India Amazon will now get access to advanced data science-based intelligent solutions through the acquisition, it said in a statement.
Upstream Commerce will now become a part of Flipkart but will continue services from Izrael.
Flipkart CEO Kalyan Krishnamurthy said , “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… we are also looking forward to making Israel one of our excellence centres to do cutting edge data science work”.
“These capabilities will be a big addition for us and together with our in-house AI capabilities, we will be able to share actionable insights with our sellers to help them make informed decisions on products and their pricing”, said Anil Goteti, Head of Marketplace at Flipkart.