LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » Technology News

Flipkart to shut eBay in India, launch new platform for refurbished goods

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Flipkart to shut eBay in India, launch new platform for refurbished goods
Representational Image: Photo: Reuters
Written By: PTI
Updated: Tue, Jul 24, 2018
07:38 pm
New Delhi, PTI
RELATED NEWS
Amazon Great Republic Day Sale and Flipkart Big Saving Days Sale | Big discounts on iPhone 12 mini, iPhone 11, Samsung Galaxy F41, Redmi 9 Power, Samsung Galaxy M51 Amazon Great Republic Day Sale and Flipkart Big Saving Days Sale | Big discounts on iPhone 12 mini, iPhone 11, Samsung Galaxy F41, Redmi 9 Power, Samsung Galaxy M51
Big offer! You can buy Bluetooth earbuds for just Re 1 - Here is how to get it on Flipkart Big offer! You can buy Bluetooth earbuds for just Re 1 - Here is how to get it on Flipkart
Have SBI card? Tomorrow is last day to avail this 10 per cent discount Have SBI card? Tomorrow is last day to avail this 10 per cent discount
What is Flipkart’s '2GUD Local'? How will it help the traditional retail business? What is Flipkart’s '2GUD Local'? How will it help the traditional retail business?
Flipkart partially spins off PhonePe, Binny Bansal to join board of fintech co Flipkart partially spins off PhonePe, Binny Bansal to join board of fintech co

E-commerce major Flipkart will shut down eBay.In next month and launch a new platform for refurbished goods as it attempts to tap into a large market segment that is predominantly unorganised.

Last year, Flipkart had raised USD 1.4 billion from global technology majors eBay, Tencent and Microsoft. In exchange of an equity stake in Flipkart, eBay had made a cash investment of USD 500 million and sold eBay.In (India business) to Flipkart.

"Based on our learnings at eBay.In, we have built a brand new value platform launching with refurbished goods - a large market which is predominantly unorganised... As part of this launch, we will be stopping all customer transactions on eBay.In on 14th August, 2018 and transitioning to the new platform," Flipkart CEO Kalyan Krishnamurthy said in an email to employees.

He added that key barriers to refurbished goods -- trust and convenience -- can be solved at scale with Flipkart's customer base, and F1 Info solutions and services.

"We will keep evolving and bringing newer formats, categories and features which cater to the needs of our value-conscious middle India," Krishnamurthy said, adding all eBay.In sellers and customers will be migrated to the new platform.

"The new platform has a different value proposition compared to Flipkart, and will cater to a different target audience. We are committed to investing in this independent brand," he pointed out.

In May this year, eBay had said it was ending its strategic partnership with Flipkart and will relaunch eBay India with a differentiated offering to focus on cross-border trade.

"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," eBay had said in its statement.

EBay had forayed into India in 2004 and commenced operations through Bazee.Com. It had also invested in e-commerce firm Snapdeal in 2013, but eventually wrote off its USD 61 million investment in February this year.  

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
FlipkarteBay
RELATED NEWS
Amazon Great Republic Day Sale and Flipkart Big Saving Days Sale | Big discounts on iPhone 12 mini, iPhone 11, Samsung Galaxy F41, Redmi 9 Power, Samsung Galaxy M51 Amazon Great Republic Day Sale and Flipkart Big Saving Days Sale | Big discounts on iPhone 12 mini, iPhone 11, Samsung Galaxy F41, Redmi 9 Power, Samsung Galaxy M51
Big offer! You can buy Bluetooth earbuds for just Re 1 - Here is how to get it on Flipkart Big offer! You can buy Bluetooth earbuds for just Re 1 - Here is how to get it on Flipkart
Have SBI card? Tomorrow is last day to avail this 10 per cent discount Have SBI card? Tomorrow is last day to avail this 10 per cent discount
What is Flipkart’s '2GUD Local'? How will it help the traditional retail business? What is Flipkart’s '2GUD Local'? How will it help the traditional retail business?
Flipkart partially spins off PhonePe, Binny Bansal to join board of fintech co Flipkart partially spins off PhonePe, Binny Bansal to join board of fintech co

LATEST NEWS

Rs 5, 10 and 100 news: Will old notes be valid after March 2021? Here is truth from Modi government

Nearly Rs 10 lakh fine on wedding organiser for breaching Covid-19 lockdown; many guests left as police arrived

Policy proposal for employment generation, scale-up in MSME sector

Check Modi government's latest notices to Chinese apps including Tiktok, PUBG mobile game

Budget 2021 Expectations LIVE: Here is what India wants - Check latest news, updates, demands here

Budget 2021: Unprecedented! 1st time ever since 1947, this is going to happen in Union Budget 2021-2022

Bullet Train: Undersea tunnel! Here is latest news update on Mumbai-Ahmedabad High Speed Rail

Recovery of excess pension made to pensioners: Big decision! Important notification by RBI

Policy reforms, sops and tax breaks? Volatility in key stock markets set to flare up as investors bet big on Budget 2021

UPSC Recruitment 2020: Result for these written examinations declared - Check full list of roll numbers

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved