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04-10-2017, 03:17 PM
Flipkart is buying eBay India as competition from Amazon heats up
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India’s giant ecommerce company Flipkart is stepping up its efforts as competition from Amazon heats up in the nation (http://mashable.com/2016/08/23/flipkart-amazon-india/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial).*
Flipkart an**unced Monday it has signed an agreement to acquire eBay India.*
SEE ALSO: Softbank reportedly wants to merge India's top online retailers to take on Amazon (http://mashable.com/2017/03/28/softbank-merging-online-retailers-fight-amazon/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
As part of the deal, eBay will make a cash investment in Flipkart and hand over its India business to the Bangalore-based company. Neither of the companies shared how much cash investment eBay is making, but Reuters says (http://www.reuters.com/article/brief-ebay-to-invest-500-mln-in-flipkart-idUSFWN1HI07A) it’s $500 million.
The an**uncement comes as part of latest round of funding for Flipkart, which saw global giants Tencent, Microsoft and eBay invest $1.4 billion in the company at a valuation of $11.6 billion, it said today. Read more... (http://mashable.com/2017/04/10/flipkart-ebay-acquisition-confirmed/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about India (http://mashable.com/category/india/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Amazon (http://mashable.com/category/amazon/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Flipkart (http://mashable.com/category/flipkart/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Ebay (http://mashable.com/category/ebay/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/w_NLLy2j3HY
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India’s giant ecommerce company Flipkart is stepping up its efforts as competition from Amazon heats up in the nation (http://mashable.com/2016/08/23/flipkart-amazon-india/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial).*
Flipkart an**unced Monday it has signed an agreement to acquire eBay India.*
SEE ALSO: Softbank reportedly wants to merge India's top online retailers to take on Amazon (http://mashable.com/2017/03/28/softbank-merging-online-retailers-fight-amazon/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
As part of the deal, eBay will make a cash investment in Flipkart and hand over its India business to the Bangalore-based company. Neither of the companies shared how much cash investment eBay is making, but Reuters says (http://www.reuters.com/article/brief-ebay-to-invest-500-mln-in-flipkart-idUSFWN1HI07A) it’s $500 million.
The an**uncement comes as part of latest round of funding for Flipkart, which saw global giants Tencent, Microsoft and eBay invest $1.4 billion in the company at a valuation of $11.6 billion, it said today. Read more... (http://mashable.com/2017/04/10/flipkart-ebay-acquisition-confirmed/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about India (http://mashable.com/category/india/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Amazon (http://mashable.com/category/amazon/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Flipkart (http://mashable.com/category/flipkart/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Ebay (http://mashable.com/category/ebay/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/w_NLLy2j3HY