In second coming, eBay seeks to tap cross-border opportunities

BENGALURU: Having frittered away its first-mover advantage in India with ineffective strategies and investment decisions, US e-commerce giant eBay Inc. is preparing to gain a stronger foothold in its second foray by focusing on cross-border opportunities, a senior company official said.

The San Jose-based eBay on 17 July announced an investment of $165 million in e-commerce marketplace Paytm Mall. It believes this is the first step towards recreating a large, sustainable business in India since relaunching eBay in early January. “The Indian market is incredibly dynamic, yet few players have found a sustainable pathway to growth and profitability. Ultimately, that means you have to be in the game and ready to change, eBay is doing both,” Vidmay Naini, country manager, eBay India, said in response to emailed queries from Mint.