Electronics gaint eBay.in merged with india's biggest e-commerce company flipkart.in.It has been officially announced by flipkart on Tuesday.
According to sources,In exchange of equity in flipkart, eBay invest 500 million cash in flipkart and sold it's business. This deal onwards flipkart operates eBay.in and eBay stay as a independent entity in flipkart group.
According to experts, it is big moment in E-commerce industry in India.Apart from that Tencent joins as a strategic investor,bringing experience in linking social networking and e-commerce.Tecent will lend significant expertise to Flipkart.
According to flipkart CEO, These deals makes indian buyers and seller will experience the best E-commerce services by flipkart