eBay is an e-commerce company which runs from various years. But now Flipkart is all set to kill this oldest portal on Independence day, 15th of August. 18 years ago, eBay is launched in 2005 and is famous for sell anything. All the things like gadgets, mobile phones, accessories, etc were available on eBay. When reshuffling of the corporate world happened last year then at that time, Flipkart acquired eBay.
eBay gave $500 million to Flipkart. Due to that, its Vc funding is at its peak but then Flipkart gave his shares of worth $200 million to eBay. So, eBay had a right to control 6.5% shares. This is the only reason why Flipkart decided to end the era of eBay.
In recent years, eBay faced a huge loss of Rs. 171 crores but then they recovered all the loss and generate a revenue of Rs. 391 crores. Besides this, a big question arises that when eBay gave profit to Flipkart then why they want to kill eBay and when they will do this, what is the impact on other commercial sectors?
Things Are Not Working Between Them
When they take shares of Flipkart then the main objective of eBay is to handle the online trade which is known as ‘cross-border‘. Flipkart merchants and eBay traders do not collaborate with each other. The thinking of these two is so different. eBay traders want to provide the world-class products in the Indian market while on the other side, Flipkart merchants try to give easy access.
Therefore, it seems like they do not work with each other anymore. When acquisition happened then Flipkart again launched eBay India with the different name as Mint-Kart but this also did not work out because of huge competition between OLX, Amazon, and Quickr.
Flipkart Signed A Deal With Walmart
When this deal happened then eBay disagreed with this deal and they talk about negotiations. eBay totally refused the offer. But the deal happened. So, eBay decided to stop the collaboration with Flipkart and will launch eBay India alone.
Deal with Walmart is the main reason behind to kill the eBay. Because they were never agreed to deal with Walmart.
What Will Happen After eBay Death?
Now, Flipkart is ready to launch the refurbished products and use the experience of eBay India. The CEO of Flipkart Kalyan Krishnamurthy said to all the workers that they will put all the experience which is learned from the eBay.in. So that they will launch a new platform.
Flipkart will also collaborate with F1 Info Solutions & Services so that they will help to provide the facility of laptop and gadget repairs.