Flipkart to take over Cleartrip in distress sale
The deep jolt to travel and tourism industry on account of the coronavirus pandemic led to Cleartrip slipping into distress; this acquisition will mark Flipkart's entry into the segment
BusinessToday.In | April 14, 2021 | Updated 23:16 IST
Flipkart will acquire embattled travel and booking platform Cleartrip, one of the oldest Indian players in the segment. This will be the latest addition to the list of acquisitions by the Walmart-owned Indian e-commerce major in various sectors.
The deal is likely to be a mix of cash and equity and will see Cleartrip valued at $40 million, The Economic Times reported. The daily added that talks over the deal are likely to end soon.