Flipkart completes eBay India merger

The deal was announced in April when the Flipkart group raised $1.4 billion from global technology majors eBay Tencent and Microsoft.
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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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