BENGALURU:A day after the Snapdeal acquisition fell through, e-commerce company Flipkart announced on Tuesday that it has completed the merger with eBay India’s operations.
Flipkart said it will own and operate eBay.in with immediate effect.The latter will remain as an independent entity within Flipkart.The deal was announced in April this year, when Flipkart had raised $1.4 billion from eBay, Microsoft and Tencent. eBay had made a cash investment of $500 million in exchange for an equity stake in Flipkart and had sold eBay.in business to Flipkart.
“Both the companies are also partnering to leverage opportunities in cross-border trade. Flipkart customers will get expanded product choices, while eBay customers will have access to more unique Indian inventory from Flipkart sellers. ,” said the company.