Swedish Startup Space

Ebay Acquires Swedish AI-Company Expertmaker

Written by on May 6, 2016
Editors Note: This post is part of a series called Featured posts, presented by Breakit.

Swedish entrepreneur Lars Hård sell his AI-company, Expertmaker, to the American tech giant. Now both he and the staff is moving to the United States.

Malmö-based Expertmaker, founded in 2006, has already had the e-commerce giant Ebay on its customer list for a long time. On Thursday evening, Swedish time, Ebay revealed that the company acquires Expertmaker for an undisclosed sum.

The deal seems to be a so called acqui-hire. In other words, Ebay wants to access the expertise of the team at Expertmaker rather than the company and its products.

“As part of Ebay Expertmaker’s technology, expertise and talent will play an important role in helping to develop Ebays initiatives in structured data”, Amit Menipaz, VP of Structured Data at Ebay says in a statement.

Expertmaker specializes in developing solutions based on artificial intelligence, machine learning and data analysis. The founder and CEO of Expertmaker, Lars Hård, now has a central role at Ebay, as manager of data reporting within the e-commerce giant.

“We are excited to be part of Ebay’s team, and bring artificial intelligence, machine learning and large-scale optimization to Ebay’s structured data initiative”, Lars Hård says in a statement.

Expert Maker had sales of $1.2 million (9.5 million SEK) between August 2014 and 2015, according to its latest financial statements. The operated at a 1.8 million SEK loss, which was a clear improvement on the previous year, when the company lost $1 million (8.5 million SEK).

  • Harry van der Veen

    Nice one! Congrats

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