The Indian e-commerce platform Flipkart has completed its merger with eBay Indians operations. Now, eBay is a part of Flipkart group.
The business overview
eBay on exchange of an equity stake in Flipkart had made a cash investment of $500 million and sold its eBay.in business to Flipkart.
After the merger Flipkart stated “Effective immediately, Flipkart will own and operate eBay.in, which will remain an independent entity as part of Flipkart”.
These companies will also partner to leverage opportunities in cross-border trade.
Customers at profit
Flipkart stated in interest of customers that “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 a more unique Indian inventory from Flipkart sellers”.
The CEO’s statement
Kalyan Krishnamurthy, CEO of Flipkart said “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”.