eBay, which ended its strategic partnership with Flipkart following the Walmart deal, is coming back to the Indian market by starting its export business for Indian sellers to sell across its major markets.
eBay is also taking over the eBay-.in domain from Flipkart, a company spokesperson has confirmed to ETtech. “We are immediately focused on the cross-border trade opportunity and encourage Indiabased sellers to continue to take advantage of eBay’s global platform and sell to customers around the world,” a company spokesperson said. Flipkart had acquired eBay.in last year when it raised $1.4 billion in funding from eBay, Tencent and Microsoft. eBay had at the time invested $500 million in Flipkart and is exiting with gross proceeds of around $1.1 billion.
eBay chalks out a comeback plan with export option for Indian sellers The Walmart-owned etailer had shut down the eBay.in platform earlier this month and had started plans to set up its own platform for refurbished goods. eBay India had a base of 4 million buyers at the time of the announcement of the Flipkart merger.
“In India, we will start with export meaning Indian sellers selling on other marketplace platforms around the world that was something that we turned over to Flipkart. We are going to get that back upon the closing of the transaction. So, we will light up the Indian seller base to sell across all of our major markets,” eBay CEO Devin Wenig said in the company’s earnings call earlier this month.