Flipkart completes eBay India merger
BY - Vaishnavi Gupta
Assistant Editor, IndianRetailer.com & Retailer Media Aug 01, 2017 /
/ 1 MIN READ
Assistant Editor, IndianRetailer.com & Retailer Media Aug 01, 2017 /
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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)
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