eBay may close sale to Flipkart in second half of the year
Scott Schenkel, Chief Financial Officer, eBay, said, "We expect this deal to close early in the second half of 2017, and upon deal close we will no longer report active buyer GMV and related financials for eBay India."April 21, 2017 | comments ( 0 ) |
American e-commerce giant, eBay plans to close sale of its India business to Flipkart early in the second half of this year. The company hopes its $500-million investment in and strategic partnership with the country’s top online marketplace will boost its India play.
Devin Wenig, CEO, eBay, said, "I'm very excited about this new exclusive partnership, which enables us to increase our penetration in India by making eBay’s global inventory accessible to a significantly larger set of Indian consumers. We're committed to winning in India through this partnership."
Once the sales closes, eBay will stop reporting active sales in India and related financials.
Scott Schenkel, Chief Financial Officer, eBay, said, "We expect this deal to close early in the second half of 2017, and upon deal close we will no longer report active buyer GMV and related financials for eBay India."
24 Nov 2015, Hotel Pullman, Aerocity, New Delhi.
Attend First global conference & master class on franchising.
GROW YOUR BRAND FRANCHISE >> REGISTER NOW!
- Paytm Payments Bank appoints three new board members
- Shoppers Stop plans creating ‘transformation’ experience in its stores
- ShopClues aims to becomes everyday fashion destination
- Future Retail posts 17% increase in Q4 profit
- Brooks Brothers widens its online footprint with Tata CLiQ
- ABFRL partners with KVIC to sell Khadi products
- BIBA opens new flagship store in Mumbai
- Crocs launches new store in Bengaluru
- SnapBizz targets 3000 retailers by 2018
- Shahid Kapoor gets 'Best Entrepreneur Award'