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EBay Acquires Search Tech Company Corrigon Ltd

Posted by on in Market Research
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Feeling some increased pressure from Facebook Inc FB 0.19%

's newly launch Marketplace this week, eBay Inc EBAY 1.59% took a step to improve its own marketplace with a new acquisition.

The e-commerce pioneer has announced it has acquired Israel-based visual search engine company Corrigon for approximately $30 million.

According to a press release from eBay Thursday, "Corrigon helps identify objects within an image, matching both visual and textual elements to ensure that the image is recognized, correctly classified and best-matched to its corresponding product."

Corrigon represents eBay's third acquisition in 2016 to enhance the company's structured data efforts. Corrigon technology aims to match the best images to their products so buyers can be confident in their purchases.

"As we continue to evolve the eBay shopping experience, Corrigon's technology and expertise will help buyers find the best results when shopping on eBay through experiences that were not possible a year ago, before our investments in structured data," said Amit Menipaz, vice president and general manager of structured data at eBay.

The Corrigon team will join eBay's structured data organization in eBay's Israeli development center.

At last check, eBay was down 0.23 percent at $32.08.

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Source : benzinga

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