eBay to sell Flipkart stake for about $1.1 bn; relaunch eBay India
In exchange of an equity stake in Flipkart, eBay had made a cash investment of USD 500 million and sold its eBay.In business to the Bengaluru-based e-commerce major.
Only last year, Flipkart group raised $1.4 billion from global technology majors eBay, Tencent and Microsoft. Image source: Reuters