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 .
EBay is to sell its stake in Indian e-commerce firm Flipkart and relaunch its eBay India service. EBay has told Flipkart and Walmart it will sell its holdings, representing gross proceeds of about $1.1bn. It will also terminate its agreements with Flipkart and take away its licence to use the eBay brand. The company will then relaunch eBay India, initially targeting cross-border trade.