EBay Sells $1.1B Flipkart Stake In Wake Of Walmart Deal, Relaunches India Business

On the same day Walmart unveiled its majority acquisition of Flipkart, eBay announced it was selling its $1.1 billion minority stake in the Indian e-Commerce giant. While eBay initially sold its Indian operations to Flipkart in April 2017, the company plans to relaunch in India under the eBay India moniker.

With the move, eBay will terminate Flipkart’s license to use the eBay.in brand name.

In reviving its own platform in India, eBay sees the same opportunities that Walmart sees: e-Commerce retail in India is projected to rise from approximately $20 billion in 2017 to $35 billion by 2019, and perhaps reach as high as $73 billion by 2022, according to Forrester.

Up to 23.1% of India’s population will make a digital purchase in 2018, though that percentage will be considerably higher among Internet users (58%), according to eMarketer. The firm expects digital buyer penetration among Internet users in India will grow to 72.9% by 2021.

Unlike its first…