eBay Buying Israeli Startup SalesPredict

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eBay has been wooing some of Israel's largest retailers of clothing, consumer electronics, cosmetics and eyewear to open online stores on the company's website.
eBayCredit: Reuters

eBay is buying Israeli startup SalesPredict, the online commerce giant announced on Monday.

SalesPredict’s software uses customers’ order history in order to suggest new items for purchase.

The acquisition is an attempt by eBay “to be more like Amazon,” stated industry analyst Nate Swanner on TheNextWeb, while noting that it was surprising that eBay didn’t already have this functionality. Customers viewing a product on Amazon’s websites are presented with a dynamic carousel of listings for similar items and potential complimentary purchases, noted Swanner.

“SalesPredict is eBay’s latest acquisition that will support its artificial intelligence, machine learning and data science efforts,” eBay explained in its announcement.

“For our buyers, it will help us better understand the price differentiating attributes of our products, and, for our sellers, it will help us build out the predictive models that can define the probability of selling a given product, at a given price over time,” stated eBay Vice President Amit Menipaz.

When the deal closes, several SalesPredict employees will join eBay’s Netanya development center. SalesPredict’s cofounders, CEO Yaron Zakai-Or and CTO Kira Radinsky, will join eBay’s Israeli team as a product management director and as data science director/chief scientist, respectively, said eBay.

“With more than 900 million listings on eBay, there is an enormous opportunity to extend our experience in machine learning and predictive analytics to help eBay identify important product attributes that can affect the price of a product,” stated Zakai-Or. “In partnership with eBay’s broader structured data team, we will help arm eBay sellers with more information about the value of items, ultimately helping to increase customer sales conversions.”

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