Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL acquired Rangespan, a shopping analytics startup based in London to improve its e-commerce business particularly Google Shopping.
Matt Henderson and Ryan Regan, former executive of e-commerce giant, Amazon.com, Inc. (NASDAQ:AMZN) founded Rangespan. The startup provides tools for retailers to help them manage product listings.
Rangespan announced the acquisition and indicated that its team will join Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL). The startup wrote, “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.” The terms of the deal was not disclosed.
According to Rangespan, it already started working individually with its retailers and suppliers regarding the process of winding down its services as part of the acquisition. Some of the large retailers in United Kingdom using its services include Tesco, Argos, and Asda.
In an interview with Tech Crunch, Regan said some of them including himself will be moving to Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) in Zurich. He said, “There are a lot of parallels between what we are doing and what Google is doing, and we are excited to work together.”
The search engine giant through Google Shopping allows people to easily find the pictures and prices of products online. Acquiring Rangespan will help Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) to increase its ability to compete with Amazon.com, Inc. (NASDAQ:AMZN) and eBay, Inc (NASDAQ:EBAY) and prevent both online retailers from capturing the searches of consumers for products online. Google Shopping offers same-day delivery in certain areas.
Rangespan is the third company based in United Kingdom acquired by the search engine giant this year. Early this year, Google Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) purchased Deepmind, an artificial intelligence startup for more than $500 million and Spider.io to prevent fraud in online ads.
The search engine giant recently announced Google Preferred, a new service that allows advertisers to easily buy ad space on select channels on YouTube covering content in areas including beauty, comedy, fashion, food, and music.