In its second-largest acquisition, Amazon buys the company for $970 million.
Gathering millions of data points, solution provides comprehensive pricing and assortment analysis for medium to large online retailers.
BOSTON, MA, June 26, 2012 – Upstream Commerce today announced the integration of its Retail Intelligence Suite with the leading e-commerce platform, Magento, a division of eBay. For the first time, Magento users will be able to easily track their competitors’ prices and assortments in real-time to give them a competitive advantage in today’s crowded online marketplace.
Upstream Commerce’s Retail Intelligence Suite includes the recently-announced Assortment Intelligence tool, as well as its flagship automated Pricing Intelligence tool, which currently tracks millions of products and has billions of quality intelligence data points. The Upstream Commerce solution is a sophisticated cloud-based Software-as-a-Service (SaaS) technology that uses advanced artificial intelligence, semantic analysis, data-mining, and image-recognition algorithms. Customers worldwide are using the Upstream Commerce Retail Intelligence Suite in the United States, Europe and Australia, including leading companies on the Internet Retailer 500 list.
As a result of the integration with Magento, Upstream Commerce will automatically extract product, pricing and assortment data directly from the Magento platform and import it into the Upstream Commerce system, matching and comparing it with data collected from competitors. Future capabilities include the ability for retailers to change the prices in their storefront directly from the Upstream Commerce system, as well as competitive intelligence data appearing directly in Magento’s admin panel. This will deliver a full actionable cycle where data is automatically extracted from Magento, analyzed in Upstream Commerce's application, and delivered back to Magento.
“Upstream Commerce is proud to apply its advanced intelligence gathering technology to the Magento platform users to help retailers compete more effectively," said Upstream Commerce CEO, Amos Peleg. “This integration is yet another step toward making real-time automated competitive intelligence capabilities broadly available to the online retail community.”
The Upstream Commerce Retail Intelligence Suite is ideally suited for Magento businesses with annual revenues of $1 million and above. For a demo of the solution, please visit: http://upstreamcommerce.com/demo.
About Upstream Commerce
Upstream Commerce was founded in 2010 by seasoned retail technology experts, Amos Peleg and Shai Geva, on the premise that automated retail intelligence capability should simplify and streamline the highly-complicated data-gathering process so retailers can concentrate on optimizing their merchandising and marketing.
Upstream Commerce is dedicated to helping retailers around the world compete more effectively, increase sales, and grow profit margins through the use of advanced automated real-time intelligence gathering and analysis.
To find out more about the Upstream Commerce Retail Intelligence Suite, including the new Magento integration capability, please visit www.UpstreamCommerce.com.