Flipkart has acquired Cleartip


The Walmart-owned e-commerce platform Flipkart has acquired online travel agency Cleartrip to diversify its offering. Flipkart will own 100% of Cleartrip’s shareholding, but Cleartrip will keep operating as a separate brand. There is no confirmation on the amount Flipkart paid for the deal, but reports suggest that the deal could be valued at $40 million. It could be a mix of cash and equity deal.

“Cleartrip is synonymous with travel for many customers, and as we diversify and look at new areas of growth, this investment will help strengthen our wide range of offerings for customers,” said Kalyan Krishnamurthy, CEO at Flipkart Group.

Cleartrip is a 15 years old company founded by Hrush Bhatt, Matthew Spacie, and Stuart Crighton back in 2016. The coronavirus outbreak has impacted the travel business. Cleatrip had also laid off 400-500 employees last year.

Also see: Best Travel apps in India

Flipkart is now looking to diversify the business to compete well against Amazon that is aggressively pushing hotel and travel bookings offerings. Flipkart already offers ticket booking services in partnership with other operators. First, it partnered with MakeMyTrip and later moved to Ixigo. Now with this acquisition, the company can serve customers in a better way.

Share this article
Shareable URL
Prev Post

ASUS ZenBook Duo 14 and ZenBook Pro Duo 15 OLED laptops launched in India

Next Post

boAt Xplorer Smartwatch with built-in GPS, 24×7 Heart Rate Tracker launched at Rs 2,999

Leave a Reply
Read next
Subscribe to our newsletter
Get notified of the best deals on our WordPress themes.