As per a new report, having finished a fresh round of funding, Flipkart has successfully completed the acquisition of eBay India . This means that the company will now own a big chunk of the e-commerce pie, although it might not necessarily be enough to take on Amazon India . It is said that the acquisition went through after Flipkart set up a funding round of $2 billion.
With a valuation of around $10 billion (down significantly since 2015), Flipkart managed to get some big names on board like eBay, Microsoft, and Tencent Holdings. It is said that American retail juggernaut Walmart is still in negotiations with Flipkart, and the company could invest medium term in the company.
The acquisition of eBay can be a win-win situation for both companies. eBay India has gone through its own share of turmoil with employees being laid off and its own MD quitting the job not too long ago. We’re particularly curious to see how the merger will take effect. Will eBay India cease to exist or will it function independently? We’re still awaiting clarification on that front, but it’s clear that the e-commerce sector has become incredibly competitive now.
eBay India has a large collection of items on its store including the ability to ship items from outside India. So one can only hope that Flipkart merges some of these features, as international shipping is pretty important to e-commerce users in the country. Given that Amazon India also offers this facility, it is possible that Flipkart will take this up as well.
With a valuation of around $10 billion (down significantly since 2015), Flipkart managed to get some big names on board like eBay, Microsoft, and Tencent Holdings. It is said that American retail juggernaut Walmart is still in negotiations with Flipkart, and the company could invest medium term in the company.
The acquisition of eBay can be a win-win situation for both companies. eBay India has gone through its own share of turmoil with employees being laid off and its own MD quitting the job not too long ago. We’re particularly curious to see how the merger will take effect. Will eBay India cease to exist or will it function independently? We’re still awaiting clarification on that front, but it’s clear that the e-commerce sector has become incredibly competitive now.
eBay India has a large collection of items on its store including the ability to ship items from outside India. So one can only hope that Flipkart merges some of these features, as international shipping is pretty important to e-commerce users in the country. Given that Amazon India also offers this facility, it is possible that Flipkart will take this up as well.
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