India’s Flipkart buys Israeli technology firm Upstream Commerce

26 September 2018 (Last Updated September 26th, 2018 13:14)

Indian e-commerce marketplace Flipkart has purchased Israel-based technology start-up Upstream Commerce to support sellers and drive growth.

India’s Flipkart buys Israeli technology firm Upstream Commerce
Flipkart purchased technology start-up Upstream Commerce to drive growth. Credit: Walmart Inc.

Indian e-commerce marketplace Flipkart has purchased Israel-based technology start-up Upstream Commerce to support sellers and drive growth.

The deal is part of Flipkart’s strategy to solve e-commerce challenges through technology innovations, as well as offer wider selection of products and better pricing for Flipkart customers.

Upstream Commerce offers cloud-based, automated competitive pricing and product analysis solutions.

Leveraging Upstream’s solutions, Flipkart will offer insights to its sellers allowing them to optimise their product assortment and pricing strategies as well as serve customers better.

“With the Upstream acquisition, we will now have tech and talent presence across Asia, US and Israel, some of the key global hubs for innovation.”

Flipkart CEO Kalyan Krishnamurthy said: “In the past decade, Flipkart has not only pushed for e-commerce growth in India but has also solved quintessential Indian problems through technology innovations and we will continue to be aggressive in building and getting global tech to solve for some of the hardest e-commerce problems.

“With the Upstream acquisition, we will now have tech and talent presence across Asia, US and Israel, some of the key global hubs for innovation.

“The team at Upstream Commerce is highly talented and as we welcome them to Flipkart we are also looking forward to making Israel one of our excellence centres to do cutting-edge data science work.”

Following the transaction, Upstream’s team will join Flipkart network and continue to work from Israel.

The Indian online retailer will also establish an overseas innovation centre in Israel to support e-commerce in India.

Upstream Commerce CEO Amos Peleg said: “The choice and vision of Flipkart to establish its presence in Israel through acquiring Upstream Commerce is a significant vote of confidence in the company’s team, technology and domain expertise, and are looking forward to help growing the presence of Flipkart in Israel.”