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Flipkart & Ebay India successfully conclude merger
02
Aug '17
Ebay India has become part of Flipkart Group following the successful conclusion of merger transaction between the two entities. The deal was made in April this year after Flipkart raised $1.4 billion from companies like Ebay, Microsoft and Tencent. Ebay made a cash investment in Flipkart for an equity stake and sold its India business to Flipkart.

Ebay India will continue to be an independent entity under Flipkart and the Indian e-commerce giant will start operating the former with immediate effect, according to media reports.

The companies will also tap cross-border trade opportunities, thus offering a wide range of global products from Ebay to Flipkart customers. On the other hand, Ebay customers will now get access to Indian inventory of sellers on Flipkart. The merger will also help Flipkart sellers to expand their business globally.

“I’m delighted to welcome eBay.in, its employees, sellers and partners into the Flipkart family. Being an early mover, eBay.in has a unique standing in the Indian e-commerce market, which is a great addition to Flipkart’s leadership position. Our coming together directly benefits Indian customers and sellers for whom we want to provide the best possible e-commerce experience. This is a step in that direction,” said Kalyan Krishnamurthy, CEO, Flipkart.

Flipkart Group is India’s largest e-retail marketplace and also includes Myntra and Jabong apart from Flipkart. (KD)

Fibre2Fashion News Desk – India


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