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Flipkart may buy eBay's India operations as part of its fund raising: Report

Bengaluru-headquartered Ecommerce Giant Flipkart Is Likely To Snap Up US-headquartered EBay's India Operations To Strengthen Its Position Against Rising Threat From Global Players Like Amazon And China's Alibaba.

News Nation Bureau | Edited By : Prakhar Sharma | Updated on: 24 Mar 2017, 03:31:56 PM

New Delhi:

Bengaluru-headquartered ecommerce giant Flipkart is likely to snap up US-headquartered eBay's India operations to strengthen its position against rising threat from global players like Amazon and China's Alibaba.

Flipkart plans to raise 2 billion dollars from series of investors including fund infusion from eBay in return for its operations getting acquired by the Indian etailer giant, a Factor Daily report said.

In 2004 eBay launched its India operations but failed to reap benefits on the early mover advantage before the Indian ecommerce sector became very competitive with Flipkart and Amazon's entry.

Over the period of time, the US e-commerce company lagged behind the bigger rivals and stood at sixth in the order behind Flipkart, Amazon, Snapdeal, Shopclues and Paytm, says the report.

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First Published : 24 Mar 2017, 03:02:00 PM

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Flipkart Ebay