Flipkart to acquire eBay India; raise up to $2bn funding
India’s biggest ecommerce 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.
Two people familiar with the talks told FactorDaily that eBay’s India unit, which is a distant sixth in terms of market share after Flipkart, Amazon, Shopclues, Paytm and Snapdeal in India’s $15 billion e-commerce market, will get folded into Flipkart as part of the transaction.