The Chinese online retailer is investing in Twiggle to help its online shoppers shop on its marketplaces
Alibaba Group Holding Limited is funding an Israel based tech company that intends to enhance item searches on its online trading websites. On 31st May 2016, the Chinese E-commerce company participated in its recent investment round, being headed by South African company Naspers. The round will bring aggregate financing for the E-commerce search engine operator to around a sum of $20 million, revealed sources aware of the deal.
Twiggle will use the funding to expand its R&D team. Before investment by the online retailer, Twiggle had received a total equity funding of $14.7 million. The online retailer, which runs the Chinese large online marketplace Taobao, refused to specify the money or state why it’s investing in the organization. Twiggle is not the only organization backed by the online retailer as it has previously backed a QR start- up in which it invested a small amount of money in 2015.
Amir Konigsberg, co-founder and CEO of Twiggle stated that the company was hoping to collaborate with an investor who can assist Twiggle in having better understanding of the industry. He added, “With nine million different sellers, Taobao is one of the biggest and most challenging sites out there.”
Twiggle’s largest appeal for the web retailer is its own query language tool, which uses artificial intelligence and behavioral data to narrow down search results to help online shoppers shop on the marketplaces. “What our system is able to do is adapt itself to specific retailer data and structuring patterns,” Mr Amir stated. That could amend the means employed by consumers to find what they are interested in buying amongst over 1 billion items for sale on Alibaba’s TMall and Taobao marketplaces.
An improved query tool could do result refining so that when a search would be conducted for, say “camera” would not return results for lenses or camera cases. The search tool will be also able online buyers to further narrow down results- say, to cameras equipped with innovative night- shooting abilities.
The importance of Better-target search results is rising as mobile turns into the web retailer’s larger source of revenue. Twiggle also could help the Hangzhou based organization spin off its growing cloud-computation facility to other online trading website, analysts state.
Mr Amir stated Twiggle, established 3 years ago by Ex Google workers will use money to build its Israeli engineering group and set up its offices inside the United States. He stated it will begin collaborating with 2 big organizations in late 2016 to use the newly introduced query language, though he refused to elaborate.
Twiggle is also mapping to find out how items relate to each other as well as their attributions, to help lower down the mistake rate in product search results.
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