E-commerce essential Flipkart on Tuesday said it has completed the merger with eBay India’s operations.
With this, eBay.in will now be a Flipkart group organisation.
The deal was introduced in April when the Flipkart group raised $1.4 billion from international technology majors.
In alternate of an equity stake in Flipkart, eBay had made a cash investment of $500 million and bought its eBay.in business to Flipkart.
The declaration comes an afternoon after smaller rival Snapdeal said it became terminating all discussions of a capacity merger.
whilst Snapdeal did no longer name Flipkart, it have been widely mentioned that both have been negotiating a merger for the final five months.
“powerful right away, Flipkart will own and function eBay.in, so one can remain an unbiased entity as a part of Flipkart,” Flipkart said in a assertion.
“As a result, Flipkart customers will get multiplied product selections with the wide array of global stock along with local sellers to be had on eBay whilst eBay clients will have access to a more unique Indian stock from Flipkart dealers,” the declaration said.
The partnership will, therefore, provide an opportunity to dealers on Flipkart’s platform to enlarge their income globally.
“Our coming together without delay blessings Indian clients and dealers for whom we want to offer the nice possible e-trade experience. this is a step in that direction,”
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