eBay Acquires Swedish Company ExpertMaker
eBay (an American Multinational e-commerce Company) announced that it is going to acquire a Sweden-based Company ExpertMaker. ExpertMaker specialises in providing solutions with artificial intelligence, machine learning and big data analytics to different retailers and manufacturers. This acquisition will help eBay to advance its structured data initiative. eBay’s structured data initiative is eBay’s initiative to make it easier for people to find what they want out of more than 900 million listings on the site. The structured data initiative allows eBay to improve the user experience. According to eBay, structured data has three important efforts; data collection, processing and enriching data, and creating product experiences.
This acquisition is not a random chance as eBay and ExpertMaker are working together since 2010 and ExpertMaker are providing its services to eBay for six years now. Financial terms of the deal are not yet disclosed because the deal will be closed sometime in the 2nd quarter of 2016. When the deal closes, the employees of ExpertMaker will become part of structured data and technology team of eBay. eBay is also taking the Al-technology and any agreements between ExpertMaker and its existing customers regarding this technology will end once the deal closes.
ExpertMaker is a Swedish company which started its operations in 2006 and has a head office in Malmo, Sweden. ExpertMaker was founded by Lars Hard, who is also the CEO of the enterprise. The company specialises in providing intelligent solutions powered by artificial intelligence, machine learning and big data analytics for forward thinking companies. Company’s client list includes eBay, Vodafone, RedLaser, SafeWay, and Telia. ExpertMaker’ CEO Lars Hard once said, “Our context and behaviours will be measured on lowest possible wireless network protocol levels, or tracked directly on-device. Everything will be captured and analysed in near real-time, and advanced services will automatically predict and optimise much of our information from live streams of data. The search will mostly become machine-to-machine interaction, distributed among a huge number of highly specialised AI-services.”
As said by Amit Menipaz (Vice President and General Manager for structured data initiative team at eBay):
“eBay’s structured data effort is a multi-year journey, and we believe the innovation and significant expertise that Expertmaker brings to eBay will help us build a best-in-class product catalogue and in turn better serve our customers.”
Lars Hard, founder, and CEO of ExpertMaker will remain the head of the team although the company will operate under the structured data and technology team of eBay. Other employees of ExpertMaker will work from the Head office located in Malmo. No other details have been disclosed, but more likely the details will get revealed once the deal is closed. The deal is expected to close in the 2nd quarter of 2016. So, you can expect to get the details by then.