U.S. e-commerce business eBay Inc has agreed to acquire Terapeak Inc, a Canadian e-commerce supply, demand and pricing data and analytics platform. No financial terms were disclosed. With the deal’s close, expected before the end of this year, eBay said it will begin integrating functionality from Terapeak into its Seller Hub to help merchants manage and scale their operations. Launched in 2004 by Andrew Sukow and Anthony Sukow, Terapeak has its offices in Victoria, British Columbia and Toronto. It has been backed by Canadian growth equity firm Georgian Partners and other investors. Georgian invested $4 million in the company in 2010.
eBay Signs Agreement to Acquire Terapeak
Terapeak’s Tools and Insights to Help Sellers Better Manage and Grow Their Businesses on eBay
eBay today announced that it has signed an agreement to acquire Terapeak, a Toronto-based company that uses supply, demand and pricing data to help ecommerce sellers know what to sell, when to sell it and at what price on marketplaces such as eBay. Upon the close of the transaction, eBay will begin integrating certain functionality from Terapeak into its Seller Hub. Financial terms of the deal were not disclosed.
Seller Hub brings valuable insights from eBay’s vast array of data directly to its sellers to help them manage and grow their business in one place – making professional selling on eBay easier. The user-friendly interface enables sellers to manage their inventory and orders, access valuable performance insights, identify opportunities for growth and take advantage of ways to get their products in front of the right buyers faster and more efficiently.
“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,” said Bob Kupbens, Vice President of B2C Selling at 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.”
“eBay’s planned acquisition of Terapeak makes so much sense for everyone involved, particularly for our customers,” said Kevin North, President and CEO of Terapeak. “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.”
The transaction is expected to close before the end of 2017, at which time Terapeak’s employees will report into eBay’s Bob Kupbens, Vice President of B2C Selling, or Sunil Rajasekar, Vice President of Seller Experience. Terapeak’s employees will continue to be based in Toronto, Ontario and Victoria, B.C.
Photo courtesy of Reuters/Beck Diefenbach