As said by Flipkart in an official statement today, “The deal will have effect immediately, and from now, Flipkart will completely own and operate eBay.in. However, eBay.in will serve as autonomous e-commerce player as part of Flipkart group.”
Adding to the statement, Flipkart said, as a result of this merger, Flipkart customers now will get a long-drawn-out option for products and goods coupled with an assortment of global inventory available on eBay.in. Moreover, the customers of eBay will also be facilitated with the access to the broadest Indian inventory, offered by Flipkart. The partnership between eBay and Flipkart, therefore, will provide sellers on Flipkart’s platform an opportunity to enlarge their sales and product availabilities globally.
Alongside this official statement, Kalyan Krishnamurthy, the CEO of Flipkart also has confirmed that the joint venture of Flipkart with eBay will directly benefit both Indian and global customers and sellers and will provide the best possible e- commerce experience.
The announcement has come to the forefront just one day after another Indian e-com player Snapdeal turned down the proposal of merging with Flipkart. As declared by the smaller rival of Flipkart, it has ceased all negotiations of a possible amalgamation. Though Snapdeal didn’t name Flipkart in its statement, it was reported that both e-com players were in talks with each other for a potential merger since last five months. And Flipkart also allegedly offered up to $950 million to Snapdeal for the acquisition. However, the negotiation is now officially dead.