Flipkart Acquires eBay India

Flipkart has finally acquired eBay India, four months after news of the deal was first announced. A statement from eBay said that “the companies are moving forward to jointly pursue cross-border trade opportunities to make eBay's global inventory accessible to more Indian consumers”. The company also confirmed that “Flipkart will own and operate eBay.in”, effective immediately. Flipkart said that the “combination of eBay's position as a leading global ecommerce company and Flipkart's market stature will allow [them] to accelerate and maximise the opportunity for both companies in India”. The deal has also meant that eBay India has invested 500 million US dollars in Flipkart.