eBay has signed an agreement to acquire Terapeak, a Toronto-based company that uses supply, demand and pricing data to help sellers make decisions on what to sell, when to sell it and at what price.
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. The two companies have already been sharing some data for several years but eBay ownership means sellers will see more tools available to them.
Seller Hub is free and designed in part to offer insights from eBay’s data to help sellers manage and grow their business. According to eBay, “the interface enables sellers to manage their inventory and orders, access performance insights, identify opportunities for additional sales and take advantage of ways to get their products in front of the right buyers faster and more efficiently.”
For one, the detailed data offered by Terapeak should provide more information for sellers based on historical selling prices and demand for specific items.
“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.