eBay acquires 5.4 percent ownership in Flipkart

flipkart-ebay

The recent deal between ebay and flipkart allowed ebay to acquire 5.4 % ownership in Indian e-commerce com company Flipkart. The latest filing with the US Securities and Exchange (SEC) shows that Flipkart’s merger with eBay India, which was completed in early August, has brought a gain of $167 million (approximately Rs. 1,083 crores) for eBay.

In last April, Flipkart raised $1.4 billion (Rs. 9,076 crores) in a funding round led by eBay, Tencent, and Microsoft. The investment opened the doors for eBay to introduce its Indian subsidiary to its new owners.

eBay ownership would help Flipkart go global in the coming future. The company already launched its global programme to start exporting its products on eBay and connect with its over 100,000 sellers spreading across 171 million.