Flipkart completes merger with eBay, despite the snapping of a Snapdeal merger
Flipkart may have missed the boat with another Indian e-commerce platform, Snapdeal for a merger but has successfully completed its merger with eBay which was announced on April 10, 2017.
Flipkart goes global with eBay merger
eBay’s millions of active buyers globally will have access to more unique Indian inventory provided by Flipkart.
Commenting on the deal announcement in April, Devin Wenig, president and ceo of eBay Inc said: “The combination of eBay’s position as a leading global eCommerce company and Flipkart’s market stature will allow us to accelerate and maximize the opportunity for both companies in India."
As part of the deal, Flipkart will own and operate the eBay India business now. Flipkart's rivalry with Amazon will go global as it has also made a deal with eBay in which they will jointly pursue cross-border trade opportunities to make eBay’s global inventory accessible to more India consumers.
“This partnership between Flipkart and eBay is the coming together of two pioneering innovators who have disrupted commerce by applying technology. It bodes well for Indian and global customers, sellers and the wider eCommerce ecosystem. eBay.in has built a strong presence in India over the years and we hope to take it to greater heights as part of the Flipkart group,” said Binny Bansal, group ceo, Flipkart.
Flipkart is expanding its presence to tackle Amazon continuously. Flipkart and iVOOMi got into an innovative tech partnership and earlier, Softbank capture 20% stake in both Flipkart in India.