Info-tech

eBay.in becomes Flipkart group company with close of merger

Our Bureau Bengaluru | Updated on January 09, 2018

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Partnership to make more unique products available to Indian consumers, and eBay’s international buyers

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.

Speaking about the development, Flipkart CEO Kalyan Krishnamurthy said: “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.”

The Flipkart Group is India’s largest e-commerce marketplace and includes group companies Flipkart, Myntra, Jabong, PhonePe & eBay.

Published on August 01, 2017

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