eBay has notified Flipkart and Walmart that it intends to sell its holdings in Flipkart, which will represent gross proceeds of approximately $1.1 billion. Following the close of the transaction, we also will be ending our current strategic relationship with Flipkart, which includes unwinding our commercial agreements with Flipkart and terminating Flipkart’s license to use the eBay.in brand. We plan to relaunch eBay India with a differentiated offer to focus initially on the cross-border trade opportunity, which we believe is significant. We believe there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India’s diverse, domestic market.
EBay is to sell its stake in online e - commerce firm Flipkart and launch its eBay India service . EBay has acquired Flipkart and Walmart it will sell its stake , representing gross proceeds of about $ 1.1bn . It will also terminate its agreements with apple and take away its licence to launch the eBay brand . The company will then relaunch its India , initially targeting cross - border trade .