Rangespan, a London-based startup providing back office services to online retailers, announced on Friday that it has been acquired by Internet giant Google. Founded by former Amazon employees in 2011, Rangespan uses real-time sales data to help businesses better determine which products to sell, depending on their seasonal popularity, and to improve efficiency in supply chain operations.
Although the terms of the agreement have not been disclosed, Rangespan’s website released the following information:
We are very happy to announce that Rangespan is joining Google. We will continue to work on services for shoppers and retailers at Google, and we’re super excited about the opportunities to come. As part of the change, we will wind down Rangespan’s services. We’ve already begun working individually with each of our retailers and suppliers on this process.
The news of Google’s acquisition will alarm its competitors. As Brian Womack of Bloomberg reported, “Google is working to prevent Amazon and eBay from grabbing consumer searches for products online with its Shopping service, which lets people quickly find pictures and prices of items online.”
Rangespan will become the third UK-based startup that Google has acquired this year.
(Image Credit: Robert Scoble)