eBay Acquired TERAPEAK Data Research Tool for Better Analytics
Online marketplace eBay Inc. has acquired Terapeak Inc., a Toronto-based data startup that helps sellers make supply and pricing decisions. eBay will integrate some of Terapeak’s tools directly into its Seller Hub, giving eBay sellers access to better analytics for their online storefronts.
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EBay’s acquisition with TERAPEAK Data Research Tool, underscores the company’s current focus on building out better data tools for third-party sellers on its platform, to help it compete better with the likes of Amazon and other marketplaces to attract their business. There are three parts to eBay’s structured data initiative: collect the data; process and enrich the data, and create product experiences.
eBay’s acquisition of TERAPEAK Data Research Tool specializes in providing intelligent solutions powered by artificial intelligence, machine learning, and big data analytics.
A financial term of the deal has not been disclosed. Making sales is the name of the game for eBay: it’s not only important for the company’s own bottom line but proving its ability to move merchandise is a crucial part of eBay continuing to attract inventory and sellers to its platform.
This is eBay’s 60th acquisition, and notably, the last three (including this one of Terapeak) have all been geared at providing better data to eBay users — specifically its sellers and shoppers. Although eBay’s last three acquisitions have been geared towards this end, it does not mean that this is a new strategy for the company: eBay has long been interested in more than being just a site for people to visit to buy and sell things, but it’s also been through a lot of changes in its backend operations, selling off eBay Enterprise, Magneto, and other operations over the last several years as part of its restructuring (which also included spinning out PayPal).
Terapeak had been working together with eBay prior to this deal, and this will be about integrating more of the company’s tools into eBay’s Seller Hub.
Nearly two million sellers currently manage their eBay business on Seller Hub. It also sounds like Terapeak will, as a result of this deal, work exclusively with eBay.
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