The eCommerce marketplace, Flipkart recently announced the proposed acquisition of Cleartrip, an online travel company. Flipkart will acquire 100% of Cleartrip’s shareholding as the company looks at expanding its digital commerce offerings for customers in India.
“The Flipkart Group is committed to transforming customer experiences through digital commerce. 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,” said Kalyan Krishnamurthy, chief executive officer, Flipkart Group.
According to the agreement, Cleartrip’s operations will be acquired by Flipkart however Cleartrip will continue to operate as a separate brand and all the existing employees will be retained.
“Cleartrip has been a pioneer in capitalizing 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. We are delighted to be part of the Flipkart family and are excited about the positive impact this collaboration can have for our customers and the travel industry in general,” added Stuart Crighton, chief executive officer, and co-founder, Cleartrip.