India's largest online retailer Flipkart is ?? ??? ?? ??in talks to acquire eBay's domestic business, according to a report from Factor Daily. The deal is said to be structured as part of Flipkart's ongoing $2 billion fundraising.
The Bangalore-based company is seen to be strengthening its arsenal to wage a war with Amazon that might soon define India's $15 billion e-commerce sector.
SEE ALSO: Flipkart acquires Jabong for $70 million to create India's biggest online fashion retailerEBay, which debuted in India in 2004, three years before Flipkart and almost a decade before Amazon, could never quite crack the market.
Currently, it ranks sixth in the pecking order of e-commerce firms after Flipkart, Amazon, Shopclues, Paytm and Snapdeal. Incidentally, eBay is a minority investor in Snapdeal and has made failed attempts in the past to acquire the Gurgaon-based firm.
In November 2016, eBay fired its entire product and tech team in India, except 15 officials, who were reportedly being moved to the U.S.
Mashablereached out to Flipkart and eBay for comment.
“EBay does not comment on market speculations," an eBay India spokesperson said.
Flipkart in March closed in on a $1 billion funding at a valuation of $10 billion, with backers that included Microsoft, Chinese giant Tencent and eBay itself.
The poster child of India's startup ecosystem has been in advanced talks with multiple investors for fresh capital after talks with American retail giant Walmart for a $1 billion infusion fell through last year.
The company has had 13 rounds of fund infusion since early 2009. Late last year Morgan Stanley had slashed its valuation by over $5 billion as losses mounted and management reshuffles continued to haunt the company.
Amazon, meanwhile, continues to take giant strides in the market, growing its shipments by over 150 percent, and narrowing the market-share gap with Flipkart.
India's startup commentators don't seem too positive about the Flipkart-eBay merger.
One of them writes: "Culturally, the two companies are totally different. eBay is a pure play marketplace, while Flipkart is a forced marketplace due to funding structure... It’s just different DNA."
Shinnen Enkai at LBJCC
Ruins of a Memory Palace
Grin and Bear It
Trump's Irish golf course gets approval to build that wall, thanks to climate change
Memorial for Hiroshima and Nagasaki Atomic Bombings at JANM
Atlanta Dream vs. Las Vegas Aces 2024 livestream: Watch live WNBA
Atlanta Dream vs. Las Vegas Aces 2024 livestream: Watch live WNBA
Fresh Hell
Janice Fukai Honored by Asian Youth Center
We're not in Ubuntu Anymore: The Linux Distros You've (Probably) Never Heard About Before
JCCSC Honors Jokun Awardees
The Gargantuan Gig Swindle
How to watch 'Kinds of Kindness': When is it streaming?
Wordle today: The answer and hints for August 29
PFLAG San Gabriel Valley API Chapter Marks 5th Anniversary
Emmanuel Macron lures top U.S. climate scientists fleeing from Trump research cuts
Indiana Fever vs. Chicago Sky 2024 livestream: Watch live WNBA
We're not in Ubuntu Anymore: The Linux Distros You've (Probably) Never Heard About Before
‘Portraits of Courage’ to Celebrate JA WWII Vets
Indiana Fever vs. Chicago Sky 2024 livestream: Watch live WNBA
Senate Defiance Act passes unanimously, outlining civil path for deepfake victimsApologetic Crowdstrike sends out $10 UberEats vouchers. Some of them don't work.SpaceX releases first test video of the giant rocket that could launch people to MarsElon Musk spreads doctored Kamala Harris campaign video on XFrance basketball Paris 2024 livestream: Watch France for freeExplore your future climate using this slick interactive tool, while you still canWe'll always, er, sorta, have the Paris Climate AgreementLego deals: Grab the Pixar 'Up' House for $47 at AmazonNYT's The Mini crossword answers for July 26iOS 18 Apple Music: New tool for creating your own AI China strongly condemns US arranging for Lai Ching Millions Must Cut Water Use in Drought Utah Governor Signs Day of Remembrance Bill China slams US arms sales to Taiwan Experts: Asian Population Overcount Masks Community Nuances New Novel Explores JA Family Dynamics 'Order' to halt sales of chips raises tensions Xinhua Commentary: History brooks no denial, distortion by Taiwan's Lai Hundreds gather to commemorate 79th anniversary of Taiwan's restoration Launch of Happiness, Health, Heritage @ Home
0.248s , 9841.6015625 kb
Copyright © 2025 Powered by 【?? ??? ?? ??】Enter to watch online.India's biggest online retailer is acquiring eBay's India business, report says,Global Perspective Monitoring
