Flipkart takes a bet on Upstream Commerce technology to pinpoint their items pricing optimisation
Published by Anonymous
Upstream Commerce Pricing Optimisation technology will help Flipkart sellers adjust their prices in real time and be more competitive
Based in Tel Aviv, Upstream Commerce provides cutting-edge retail price optimization solutions that compare prices and items availability across multiple online retailers, including Amazon, Costco, Walmart, or Barnes&Noble. Catering globally to multiple e-commerce businesses and committed to continuous innovation, Upstream Commerce is sure to provide Flipkart with the much-needed technological boost that will allow it to compete with Amazon, its main rival.
Though the acquisition price hasn't been disclosed, this strategic move will allow the Walmart-backed marketplace gain a strong foothold in the e-commerce innovation and data science industry. Flipkart has already made public its intention to increase its presence in the U.S., Asia, and Israel with the acquisition of more technology companies, such as Liv.ai. A start-up building voice technology, Liv.ai will make the translation into regional Indian languages much easier.
With a $2 billion infusion of fresh capital from Walmart and a wealth of future acquisitions and investment plans, Flipkart is slowly enhancing its human and technological resources to take on Amazon. Since the Competition Commission has approved the acquisition of 77% of its stakes by Walmart, Flipkart has enjoyed Walmart's full support in its new business development agenda.
With the acquisition of Upstream Commerce, Flipkart sellers will benefit from valuable real-time insights on product assortment and how to drive their goals. Retailers will thus be able to cater to the real needs of their customers. In addition, Flipkart customers are sure to get the best possible price from sellers. Though Upstream Commerce will channel its efforts into meeting Flipkart's needs, the company will continue to cater to their other customers too and will continue to work from Israel.
According to Kalyan Krishnamurthy, the Flipkart CEO, the company will continue to invest in new technologies, especially in machine learning and AI solutions.