ebay India and flipkart company merger

Flipkart, India’s largest e-commerce marketplace and eBay have successfully concluded the merger transaction to make eBay.in a Flipkart Group Company. The deal was announced in April, when the Flipkart Group raised $1.4 billion from global technology majors eBay, Tencent and Microsoft. In exchange for an equity stake in Flipkart, eBay had made a cash investment and sold its eBay.in business to Flipkart.

With immediate effect, Flipkart will own and operate eBay.in, which will remain an independent entity as a part of Flipkart. Additionally, both companies are also partnering to leverage opportunities in cross-border trade. As a result, Flipkart customers will get expanded product choices with the wide array of global inventory available on eBay, while eBay customers will have access to more unique Indian inventory from Flipkart sellers. The partnership will provide a new opportunity for Flipkart sellers to expand their sales globally