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Flipkart Buyouts Israel Based Start-Up Upstream Commerce

Flipkart has acquired an Israel-based analytics start-up called Upstream Commerce, making this is Flipkart’s second acquisition in the recent months after the Walmart-owned e-commerce company acquired Indian artificial intelligence start-up Liv.ai in August. The terms of the deal were not disclosed.

Flipkart chief executive Kalyan Krishnamurthy said in a statement “We will continue to be aggressive in building and getting the global tech to solve for some of the hardest e-commerce problems. 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.

He added, “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.”

Anil Goteti, head of marketplace at Flipkart said, “While we have been actively developing machine learning algorithms to further improve the selection and pricing parameters for sellers, we believe that through added capabilities from Upstream, we will be able to provide them with automated pricing and help plan better selection in the most accurate, timely, and profitable way.”

Upstream currently builds cloud-based and automated competitive pricing products and solutions, along with other various programmes.

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