Flipkart to acquire online travel firm Cleartrip valued at $40 million

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