Decide.com Buyout by eBay
On Friday, eBay Inc (NASDAQ:EBAY) revealed its purchase of Decide.com on Friday. Decide.com is a price-forecasting startup based in Seattle; it is used to project the future of a product, which helps consumers make the right purchase. The website gives the consumers a price forecast of a product, thus helping them decide whether they should buy the product or wait till its price declines.
After Decide.com’s buyout, it was decided that Decide’s all 26 employees along with Mike Frigden its CEO will become a part of Bellevue, Wash – eBay’s new office; however, Decide’s CTO and co-founder Oren Etzioni left his position and was made the head of a new institute of artificial intelligence by Paul Allen. Decide.com will officially close down towards the end of the month September. With a series C Round of $8 million in March, Decide.com successfully generated $16.5 million from Maveron, Madrona and Vulcan Capital. The price at which eBay-Decide deal was made, has not been revealed by both parties. According to eBay executives, the deal isn’t enough to land in any SEC filing.
All the engineers at Decide.com will now develop different tools to facilitate eBay’s sellers in its marketplace. CTO of eBay Mark Carges announced that some of these tools will help the sellers price their items a lot more competitively, whereas other tools will help them decide if putting their item on auction is the right way to sell their product or not.
Foundation Capital’s New Partner
Jonathan Ehrlich has been declared a partner of Foundation Capital that includes Pocket, Motif and Lending Club among its other investments. Ehrlich left Copious – a company he co-founded – and became an entrepreneur at Foundation earlier this year. Before Copious, he was Facebook Inc (NASDAQ:FB)’s marketing director. Ehrlich supervised brand and consumer marketing at Facebook.
In the premarket, shares of eBay Inc (NASDAQ:EBAY) went down by 0.21% ($52.94).