E-bay into the hands of Flip-cart

New Delhi, April 10: As we knew that India's Biggest e-commerce corporation Flip cart has keen to buy the E-bay from the past year. At last Today Flipkart bought the Ebay with the mega deal here on Monday.

Flipkart Ltd will also buy eBay’s India business as part of the $1.4 billion deal, a majority of which is in cash. The funding round values Flipkart at $11.6 billion, which is lower than its peak valuation of $15 billion but is still considered a coup for a company that had been hit by steep valuation markdowns by its own investors last year.



Flipkart has closed a mammoth funding round of $1.4 billion from Tencent Holdings Ltd, eBay Inc and Microsoft Corp, in the biggest-ever start-up funding round that boosts Flipkart ability to compete with arch-rival Amazon India.