Walmart India’s E-commerce Entity Flipkart Acquires Israel Based Startup
E-commerce major Flipkart said it has acquired Israel-based Upstream Commerce for an undisclosed amount as the Walmart-backed firm aims to further strengthen its selection and pricing capabilities.
Flipkart, which is locked in an intense battle for market leadership in India against American rival Amazon, will get access to advanced data science-based intelligent solutions through the acquisition, it said in a statement.
The buyout of Upstream Commerce, which offers cloud-based, automated competitive pricing and product analysis solutions, will also strengthen Flipkart's ability to deliver insights to its sellers, it added.
Post the acquisition, the Upstream Commerce team, while continuing to work out of Israel, will become part of Flipkart.
"With the Upstream acquisition, we wil...