Flipkart completes eBay India merger

E-commerce major Flipkart on Tuesday said it has completed the merger with eBayIndia's operations.

With this, eBay.in will now be 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 of an equity stake in Flipkart, eBay had made a cash investment of $500 million and sold its eBay.in business to Flipkart.

(Source:PTI)