Flipkart takes over eBay.in after merger talks conclude

BENGALURU: Flipkart took over eBay.in on Tuesday, after the two companies concluded the merger announced in April at the time of the Indian ecommerce company raising a $1.4-billion funding from eBay, Microsoft and Tencent. eBay made a $500-million cash investment in Flipkart for an equity stake and sold its eBay .in business to Flipkart.

eBay.in will remain an in dependent entity as part of Flipkart, the latter said. Both companies will also leverage cross-border trade, which will enable Flipkart's customers to access global inventory on eBay, while Flipkart sellers can also get access to eBay customers, giving them a chance to sell globally.

“I'm delighted to welcome eBay .in, its employees, sellers and partners into the Flipkart family,“ Flipkart CEO Kalyan Krishnamurthy said in a statement.