Flipkart to acquire online travel firm cleartrip valued at $40 million
16 Apr 2021
1 min read
Flipkart on Thursday said it will wholly acquire online
travel aggregator Cleartrip. Though it did not disclose the financial details
of the transaction, sources said that the travel firm has been valued at about
$40 million. Post the transaction, Cleartrip will, however, continue to operate
as a separate brand and retain all its employees.
For Flipkart, the addition of Cleartrip is a step towards
business diversification. It will open up new avenues of monetisation for the
company, said Arpit Mathur, partner at Kearney.
The full article was originally published on Financial
Express