Flipkart, India's largest e-commerce marketplace said it will begin offering the global inventory of eBay to Indian consumers while taking the products of thousands of sellers in the country to eBay's customers globally.
In a deal announced in April, Flipkart raised $1.4 billion from global technology majors eBay, Tencent and Microsoft. In exchange for an equity stake in Flipkart, eBay had made a cash investment and sold its eBay.in business to Flipkart.
Flipkart will now own and operate eBay.in, which however will remain an independent entity.Additionally, both companies are also partnering to leverage opportunities in cross-border trade. As a result, Flipkart customers will get expanded product choices with the wide array of global inventory available on eBay, while eBay customers will have access to more unique Indian inventory from Flipkart sellers. The partnership will thus provide a new opportunity for Flipkart sellers to expand their sales globally, the firm said in a statement.
"Being an early mover, eBay.in has a unique standing in the Indian e-commerce market, which is a great addition to Flipkart's leadership position. Our coming together directly benefits Indian customers and sellers for whom we want to provide the best possible e-commerce experience. This is a step in that direction," Flipkart CEO Kalyan Krishnamurthy said in the statement.