eBay acquires 5.4% stake in Flipkart
E-commerce major eBay has acquired a 5.4% stake in Flipkart, according to the company's quarterly report filed with the US Securities and Exchange (SEC). The acquisition follows the sale of eBay India business to Flipkart for $211 million, which was completed in August. Earlier this year, eBay also invested $500 million into the Indian e-commerce startup.