SEATTLE – April 27, 2015 – Indix, the cloud-based Product Intelligence company that provides analytics and insights for brands, retailers and commerce enablers, today announced a new deal with Optoro, an enterprise software solution that works with retailers, wholesalers, and manufacturers to sell returned and excess inventory. Optoro will utilize Indix data on nearly 1 billion products to better connect consumers with goods that would otherwise sit in inventory warehouses.
“Excess inventory is a real problem for businesses that sell product,” explained Sheen Khoury, Chief Customer Officer of Indix. “But with the help of Indix product intelligence, Optoro connects customer demand with that excess, and puts the value of the product back into the business where it belongs. That’s the power of big data.”
Optoro transforms the way their partners process, disposition and sell their excess and returned inventory. Through a cloud-based reverse logistics solution, the company helps retailers tackle a problem that totals over $500 billion per year in the U.S. alone. Optoro takes excess and returned goods and sells them directly to end consumers over a variety of platforms, such as eBay, Amazon and Optoro’s own site, BLINQ.com. The partnership with Indix allows Optoro to more effectively connect customers with this excess.
“This is a great development for our company,” said Optoro CEO Tobin Moore. “The Indix platform will provide us access to detailed information for hundreds of millions of products, allowing us maximum leverage for real-time optimizations and inventory management. This deal will help us to improve our solution to reduce waste, save retailers money and put useable goods in the hands of consumers who want them.”
For more information, contact Zach Pardes at indix@RLMpr.com, or (212) 471-5006.
Indix is building the world’s largest product database and a product intelligence platform that helps businesses boost productivity, drive innovation, and accelerate growth. Using the Indix App and APIs, businesses can improve product search and discovery, optimize promotions and offers, enrich product catalog attributes, and analyze the market and competitors. Indix also provides machine learning services using proprietary data science algorithms. Indix currently tracks more than 700 million products across more than 7,000 categories. The company now has offices in Seattle, San Francisco and Chennai. For more information, please visit https://www.indix.com.
Founded in 2008, Optoro’s mission is to be the leading market solution for returned and excess goods, providing superior value for buyers and sellers across the world. Through their cloud-based, multi-channel selling technology, online remarketing expertise, and full suite of business intelligence tools, they offer their clients the optimal solution for managing and selling their returned and excess inventory. Since its founding, Optoro’s focus has been on using cutting edge technology and access to the world’s online marketplaces to drive higher recovery rates, quicker turn-times, and more transparency for their client’s goods. Optoro can be found online at http://www.optoro.com.