Flipkart likely to bag Cleartrip for $40 million in distress sale
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Talks of a potential Flipkart-Cleartrip deal comes at a time when the Walmart-owned e-commerce firm is making strategic investments across sectors to build an ecosystem of online services.
Mumbai:Flipkart is finalising the acquisition of Cleartrip, one the oldest travel booking portals in India, two people in the know said, as the Walmart-owned online retailer continues to make strategic investments across sectors to strengthen its portfolio and build an ecosystem around it.
The Flipkart-Cleartrip deal, which will be a mix of cash and equity, is likely to value Cleartrip at around $40 million in what is considered to be a distress sale for the 15-year-old Mumbai firm amid the pain that the pandemic has inflicted on the travel and hospitality industry.