Flipkart acquires eBay's India business to fight Amazon

India's top e-commerce firm Flipkart has raised $1.4 billion in its biggest fundraising to date as it takes on US tech giant Amazon.com Inc for a larger share of the country's online retail market. Flipkart's previous acquisitions of Myntra and Jabong seemed logical because they allowed the company to get into fashion retail in a big way but acquiring horizontal players eBay India and Snapdeal does not bring that advantage.