As we previously reported, as of today eBay India is Flipkart as of today the 1st of August. Flipkart has bought eBay India and eBay will make a $500 million cash investment and cooperate in the future. Our previous story was published in April: eBay confirms big Flipkart India deal.
As was said at the time by Binny Bansal, Group CEO of Flipkart: “This partnership between Flipkart and eBay is the coming together of two pioneering innovators who have disrupted commerce by applying technology. It bodes well for Indian and global customers, sellers and the wider eCommerce ecosystem. eBay.in has built a strong presence in India over the years and we hope to take it to greater heights as part of the Flipkart group.”
And if you’re an eBay India seller, the only real change and impact at the moments looks to be billing arrangements. eBay has said in an announcement: “We are in the process of updating our banking and remittance processes which changes are consequent to the change of ownership and therefore can be implemented only after August 1, 2017. Due to the these changes necessitated by the change of ownership, it is likely that you may experience a delay in receiving remittance for your transactions on www.ebay.in. Please be advised that remittance scheduled between August 1st, 2017 – August 7th, 2017 may be delayed. We assure you that regular payment cycle will be reinstated at the earliest.”
This deal between Flipkart and eBay India is intruiging because it’s so different to Amazon’s approach in the sub-continent. Both firms are keen to get their hands on their share of Indian ecommerce. This partnership of sorts between eBay and Flipkart seems quite canny. But will it be enough to see off the mighty Amazon? Increasingly, India is a vital and potentially profitable ecommerce battleground. But it’s also still early days.
