India’s largest e-commerce player Flipkart buys eBay’s India business, and closing a $1.4 billion fund-raising round from Tencent, eBay and Microsoft.
In exchange for an equity stake in Flipkart, eBay has agreed to make a $500 million cash investment in and sell its eBay.in business to Flipkart.
eBay.in will continue to operate as a separate entity from Flipkart and the two companies plan to tap in each other’s inventory to expand sales, giving Flipkart customers and sellers access to eBay’s global marketplace.
Takeaways from above News-
- Flipkart buys eBay India
- CEO of Flipkart is Kalyan Krishnamurthy
- Flipkart headoffice is in Bengaluru
If you have any other takeaways, do share with us in the comment section
Source- The Hindu