After fruitless talks with Snapdeal, Flipkart completes eBay India merger

The deal was announced in April when Flipkart raised $1.4 bn from eBay, Tencent, and Microsoft

E-commerce major Flipkart on Tuesday said it has completed the merger with eBay India's operations. With this, eBay.in will now be a Flipkart Group company. 

The deal was announced in April when the Flipkart group raised $1.4 billion from global technology majors eBay, Tencent, and Microsoft.

In exchange of an equity stake in Flipkart, eBay had made a cash investment of $500 million and sold its eBay.in business to Flipkart.

The announcement comes a day after smaller rival Snapdeal said it was terminating all discussions of a potential merger.

While Snapdeal did not name Flipkart, it had been widely reported that both were negotiating