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article imageInternet giant eBay buys Canadian data analysis firm Terapeak

By Ken Hanly     Dec 13, 2017 in Business
San Jose - The on line giant eBay announced that it will acquire Terapeak based in Toronto, Canada. Terapeak uses supply, demand, and pricing data to aid sellers to know what to sell, when to sell it and at what price in different marketplaces such as eBay.
Seller Hub in eBay
Certain aspects of Terapeak will be integrated into eBay's Seller Hub that provides sellers with insights from eBay's vast array of data that can help them manage and grow their business in eBay.
The user-interface is friendly and sellers can manage inventory and orders. They can also gain access to insight into their performance, identify opportunities for growth and also ways to move their products to buyers faster and efficiently.
Bob Kupbens, VP of B2C selling at eBay said:
“Nearly two million sellers currently manage their eBay business on Seller Hub. Expanding Seller Hub to provide additional capabilities from Terapeak will help our sellers be even more successful and enable them to more effectively manage their businesses on eBay. We are committed to being the best partner to our sellers as we look to create the most powerful selling platform. The integration of Terapeak’s functionalities into Seller Hub – from sales history and performance enhancement opportunities to price guidance and comparisons – will continue to help eBay’s merchants scale their businesses on eBay.”
Kevin North, the president and CEO of Terapeak also had an upbeat assessment of the sale: “eBay’s planned acquisition of Terapeak makes so much sense for everyone involved, particularly for our customers. We are excited to continue our vision of empowering merchants to discover what to sell on eBay and how to optimize their listings for maximum performance. Over time Terapeak’s capabilities will become naturally integrated with eBay’s Seller Hub, therefore becoming more robust and providing merchants with a single place to manage and elevate their ecommerce business.”
Terapeak employees to remain in Canada
While eBay has headquarters is in San Jose, California, Terapeak employees will remain in Toronto, and also some in Victoria, BC. Terapeak will report to Kupbens and Sunil Rajasekar VP of Seller Experience.
The purchase is expected to be completed before the end of this year.
About eBay
A multinational e-commerce corporation eBay facilitates consumer-consumer, and business-consumer sales including auctions through its website.
Today eBay is a multi-billion-dollar business and operates in about 30 different countries and employs about 12,600 employees.. While buyers can use the website for free, sellers are charged fees often for listing but also when the items are sold.
From 2002 onward PayPal was a wholly owned subsidiary of eBay but in 2015 eBay divested it. However, most eBay transactions are still paid using PayPal.
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