HomeNewsFlipkart to acquire eBay India soon, could raise $ 2 billion

Flipkart to acquire eBay India soon, could raise $ 2 billion

eBay’s India unit will be merged into Flipkart as a part of the transaction.

India’s one of the biggest e-commerce site, Flipkart is reportedly in talks to acquire eBay as a part of its fresh funding of around $2 billion.

According to a report by Factor Daily, two people familiar with the talks said that eBay’s India operations will be merged into Flipkart as a part of the deal. Further, the latest round of fundraising is led by Chinese internet giant Tencent and it has eBay and Microsoft as backers, the two people were quoted by the report.

If this report is believed to be true, then Flipkart’s position in the e-commerce domain will surely strengthen giving a stiff competition to its arch rival Amazon in this space. Earlier this week, Bloomberg also reported that Flipkart has raised around $1 billion and aims to raise another $1 billion in next few months.

Other than this, Flipkart is also in talks with Walmart to raise funds and there is a high possibility that US retailer could invest in the company soon.

Previously, in an attempt to enhance the overall shopping experience for both businesses and consumers, Flipkart tied up in a strategic partnership with Microsoft through after which the company now adopt Microsoft’s Azure as its exclusive public cloud platform.

Microsoft’s Azure comes with Artificial Intelligence (AI) capabilities which would help in innovative merchandising, advertising, marketing and customer service. Machine Learning is the future and implementing it in the back-end e-commerce business will surely help Flipkart operate it functions a lot efficiently.

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