December 19, 2012—First, Home-Depot included PayPal as a service method at checkouts and now, they’ve acquire BlackLocus, the ecommerce pricing engine. Rodrigo Carvalho, owner of BlackLocus which helps retailers respond to competitive pricing changes and pricing conversions, made the announcement earlier this week that his company was sold to The Home Depot.
Internet pricing and repricing tools have exploded onto the online scene for merchants looking to keep their product pricing competitive and staying one step ahead of their competitors. This is especially true on Amazon.com where many merchants use repricing tools to win the Amazon Buy Box.
Founded in 2010 by Carvalho, Lukas Bouvrie and Francsico Uribe while finishing their business and computer science graduate degrees at Carnegie Mellon University, BlackLocus incorporates machine learning and revenue management techniques in a pricing service that allows small and mid-sized online merchants the opportunity to compete with larger retailers.
Carvalho announced the sale of BlackLocus by saying, “Our passion for data-driven decision making led us to start BlackLocus a few years ago. We wanted to create the next version of business intelligence software for retailers. We wanted to mix internal data with public data. We wanted to turn large and complex data sets into simple and intuitive interfaces. We wanted to make it all actionable! Our vision has always been to allow retailers to extract value out of the vast, and ever growing, amount of information that exists today.”
Carvalho also announced that BlackLocus will become Home Depot’s Innovation Lab in Austin, TX.