EBay immediately introduced one other acquisition immediately that underscores the corporate’s present deal with constructing out higher information instruments for third-party sellers on its platform, to assist it compete higher with the likes of Amazon and different marketplaces to draw their enterprise. It’s buying Terapeak, a Toronto-based startup that has constructed a platform that crunches information about provide, demand and pricing to assist information firms on what to promote and easy methods to worth it.
Monetary phrases of the deal haven’t been disclosed. Terapeak had raised round $5 million in funding with the one investor disclosed on Crunchbase being Georgian Companions.
That is eBay’s 60th acquisition, and notably the final three (together with this certainly one of Terapeak) have all been geared at offering higher information to eBay customers — particularly its sellers and buyers. SalesPredict, which it acquired in 2016, is in the same space as Teradata, offering extra datapoints to sellers to assist them work out what to promote and when to promote it. Corrigon, in the meantime, is a visible search engine eBay acquired for round $30 million additionally final yr, geared at serving to to make these third-party merchandise extra simply discoverable on eBay.
Making gross sales is the secret for eBay: it’s not solely essential for the corporate’s personal backside line, however proving its potential to maneuver merchandise is an important a part of eBay persevering with to draw stock and sellers to its platform.
Though eBay’s final three acquisitions have been geared in the direction of this finish, it doesn’t imply that this can be a new technique for the corporate: eBay has lengthy been desirous about greater than being only a website for individuals to go to to purchase and promote issues, but it surely’s additionally been by means of lots of adjustments in its backend operations, promoting off eBay Enterprise, Magento, and different operations during the last a number of years as a part of its restructuring (which additionally included spinning out PayPal).
Terapeak had been working along with eBay previous to this deal, and this can be about integrating extra of the corporate’s instruments into eBay’s Vendor Hub.
“Practically two million sellers at the moment handle their eBay enterprise on Vendor Hub. Increasing Vendor Hub to offer extra capabilities from Terapeak will assist our sellers be much more profitable and allow them to extra successfully handle their companies on eBay,” stated Bob Kupbens, Vice President of B2C Promoting at eBay, in a press release. “We’re dedicated to being the very best companion to our sellers as we glance to create probably the most highly effective promoting platform. The combination of Terapeak’s functionalities into Vendor Hub – from gross sales historical past and efficiency enhancement alternatives to cost steerage and comparisons – will proceed to assist eBay’s retailers scale their companies on eBay.”
It additionally feels like Terapeak will, because of this deal, work solely with eBay.
“eBay’s deliberate acquisition of Terapeak makes a lot sense for everybody concerned, significantly for our clients,” stated Kevin North, President and CEO of Terapeak, in a press release. “We’re excited to proceed our imaginative and prescient of empowering retailers to find what to promote on eBay and easy methods to optimize their listings for max efficiency. Over time Terapeak’s capabilities will grow to be naturally built-in with eBay’s Vendor Hub, due to this fact turning into extra strong and offering retailers with a single place to handle and elevate their ecommerce enterprise.”
The transaction is predicted to shut earlier than the top of 2017, and whereas Terapeak will report back to Kupbens and Sunil Rajasekar, VP of Vendor Expertise, its workers will keep in Canada.