Flipkart, an India-based e-commerce company, publicized its plan to acquire Cleartrip, an online travel technology company. Flipkart will own 100% of Cleartrip shareholding to acquire the travel company. The deal is a part of Flipkart’s strategy to enhance digital commerce offerings for customers.
Despite full ownership of Cleartrip’s shareholdings, the travel agency will still have a full operation on the company. Thus, Cleartrip will still operate as a separate brand. Additionally, Cleartrip will be cooperating with Flipkart for further technology solutions development aimed at easing customers’ travel. Though, Flipkart also noted that the deal closing is still subject to applicable regulatory approvals.
Flipkart: diversifying business through Cleartrip acquisition
Upon the acquisition deal, CEO of Flipkart Group, Kalyan Krishnamurthy, said, “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.”
“We welcome the Cleartrip team with their deep industry knowledge and technology capabilities to the Flipkart Group and look forward to providing deeper value and travel experiences for customers together.” Krishnamurthy continued, as quoted from Mint.
Additionally, CEO and co-founder of Cleartrip, Stuart Crighton, also commented, “Cleartrip has been a pioneer in capitalising on technology to simplify the travel experience for our customers. This product-driven focus has enabled us to become the preferred travel partner of choice for consumers in a wide range of markets in the region.”
Crighton further added that it is a delightful experience to become a part of the Flipkart family. Crighton hopes for the best out of the collaboration between the two companies. Both companies are aiming their development to the customers as well as the travel industry in general.
Read also: Amazon India Offers Mentoring Programme to Startups
Follow and join us on Youtube, Instagram, Facebook, and Twitter to be part of the trader community in Asia
