Cleartrip is latest addition to list of acquisitions by Walmart-owned Indian e-commerce major in various sectors. Acquisition of Cleartrip enhances Flipkart group s position in India, which already has Myntra, PhonePe, eBay, Ekart, Jeeves, Jabong and Flip
Flipkart acquires online travel company Cleartrip
Flipkart has announced the announced that it will acquire Cleartrip, a leading online travel technology company. Flipkart said that it will acquire 100% of Cleartrip’s shareholding, as the company further enhances its investments to strengthen its digital commerce offerings for customers. The amount of the deal is not disclosed by the companies, but reports say that it is around $40 million.
Based on the agreement, Cleartrip operations will be acquired by Flipkart. Cleartrip will continue to operate as a separate brand, retaining all employees while working closely with Flipkart to further develop technology solutions to make travel simple for customers.
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.