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Flipkart to acquire eBay India; raise up to $2bn funding

Flipkart to acquire eBay India; raise up to $2bn funding

Thursday, March 23, 2017, 8:42 PM

India’s biggest e-commerce company Flipkart is acquiring eBay’s operations here in a deal structured as part of a $2 billion capital raising. This replenishes its war-chest in its fight with Amazon for market share on its home turf. eBay’s India unit, which is a distant sixth in terms of market share in India’s $15 billion e-commerce market, will get folded into Flipkart.
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