Home Depot Acquires BlackLocus
BlackLocus is a startup based in Austin, Texas that enables retail companies to base pricing decisions on big data. Home Depot, one of the largest home improvement retail chain companies, has acquired BlackLocus. BlackLocus started a few years ago when the founders were studying for their graduate degrees at Carnegie Mellon University in Pittsburgh.
They had moved their operations to Austin, Texas last year. Their staff will remain in Austin, Texas and their company’s current office space will be the founding base for the “Home Depot Innovation Lab.”
It is unknown what the financial details around the acquisition were. Last year BlackLocus raised $2.5 million in funding from DFJ Mercury and Silverton Partners. Earlier this year, Home Depot acquired another tech company called Redbeacon.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry