 "Opinion: It’s curtains for India’s oldest ecommerce player, eBay")
The $1.4 billion funding of Flipkart, announced today, includes an investment from eBay as well as a merger of eBay India’s business with Flipkart in exchange for equity. This marks an exit of sorts for eBay from India, although eBay.in will continue to function as a part of Flipkart. It also brings the curtain down on a journey that began 13 years ago.
Long before the arrival of Amazon and Alibaba, or even the launch of Flipkart and Snapdeal, it was eBay that made a foray into Indian ecommerce with the acquisition of Bazee for US$50 million in 2004.
Flipkart
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