EBay Inc., in an attempt to actively grow its portfolio of technology among new and emerging frontiers of e-commerce, has recently acquired Decide.com, a price research firm as announced in a blog post by EBay Inc. The financial details of the deal remain undisclosed.
Post acquisition, Decide.com will shut down its services by September 30, 2013 as disclosed in a blog post at its website. All employees, including Chief Executive Mike Fridgen, will join eBay’s new Seattle-area office except Co-founder Oren Etzioni who will be taking on a new role as the Executive Director of the Allen Institute for Artificial Intelligence.
Decide.com, a Seattle based startup is a kind of shopping service that predicts suitable time to buy consumer electronics and appliances, based on billions of data points from across the web. With predictive algorithms , it tells the shoppers when to buy with confidence, or wait for a price drop or newer model to be released.
As claimed by the company, since launch in June 2011, Decide’s price predictions have been 77 percent accurate and the average potential savings have been $54 per device.
EBay Inc. will be utilizing Decide’s talent to work on developing an improved pricing tool that will help around 25 Mn of ebay sellers better compete, regardless of changing market dynamics. The tool will help sellers to better price their merchandise, sell items faster, and leveraging their analytical skills to produce more detailed insights, intelligence and price guidance to sellers.
Till date Decide.com has raised $17Mn in venture capital from Paul Allen’s Vulcan Capital, Maveron and Madrona Venture Group including a recent $8 Mn Series C round.
Ebay’s other acquisitions in this space include Hunch, Milo, RedLaser.
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